If you’re looking for some semi secret loophole to get money out of your IRA early, so you can spend it, think again. The tax code has that covered. The gist of the IRA early withdrawal penalty states that anyone under age 59½ who withdraws money from their IRA, is hit with a 10% penalty. Of course, the number one way to avoid the penalty is to wait until you’re old enough to get your money. That’s the point of an IRA in the first place – to keep the money there until retirement.
That said, the IRA rules have exceptions and exemptions where you won’t be penalized for taking money out early. Some are added benefits built into the IRA, others help with unforeseen hardship, and the IRS is very specific about each one. Continue Reading…
Comparison shopping is a typical routine done in stores all the time and it usually ends at the price. But every once in a while, you dig a little deeper. You check under the hood of a car or compare ingredients in food. So why don’t we do more of it with our investment products? When shopping for funds, take the time to compare the ETF and mutual fund holdings.
The Affordable Care Act will bring a big health reform change to insurance plan coverage in 2014. You can start making plans now. A number of those changes will be introduced October 1, to give you a head start. Here’s a quick overview of the early changes and what to expect.
The tax extension deadline is almost here and this is a friendly reminder that the IRS wants your tax filings soon. This year the