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Why You Need an IRA Even if You Have a 401(k)

Why You Need an IRA Even if You Have a 401(k) 1

Most of us like simplicity in life, and that even includes retirement planning. If you actively participate in the 401(k) plan with your employer, you may assume that you’ve got your retirement covered. But as the saying goes, never assume anything. Investing in an individual retirement account (IRA) is an opportunity to supplement your 401(k) … Read more

What are Qualified Distributions?

What are Qualified Distributions? 6

A qualified distribution is a withdrawal from a retirement account that does not result in an early withdrawal penalty. For retirement accounts that are generally withdrawn on a tax-free basis if the withdrawals are made when the account owner is the appropriate age or for certain exceptions, than a qualified distribution from that retirement account … Read more