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The Quest IRA Blog

Tax Deadlines You Should Know for Your IRA

With tax season well under way, you may be wondering how your IRA figures into your filing. There are several key deadlines with respect to IRA accounts that you must consider before beginning your taxes. For the purpose of this article, we will only be focusing on traditional IRAs, Roth IRAs, and inherited IRAs. December 31st. If you... [ Read More ]

Four 401K Fees You May Not Know You’re Paying

Everyone knows they should be saving for retirement. Some are closer to their goals than others, and some may even know the difference between an IRA and a 401K, but few people know how much they are paying in fees just to have a retirement account. The fees may seem like an insignificant amount, usually ranging from 0.5%... [ Read More ]

IRA Investments: Stocks, Bonds, and Mutual Funds

Choosing which type of investment to place your IRA funds into can be overwhelming, especially with all the different options, rules, and risks out there. Most of the time, you will spread your annual contribution between two or more investments, or “buckets” if you will. This way if one sector does poorly, you lessen your chance of taking... [ Read More ]

Four Differences Between SEP and SIMPLE IRAs

Just because you own a small business doesn’t mean you aren’t qualified to offer retirement plans to your employees. Because Americans like options, there’s not just one option for you to utilize, there are two—the Simplified Employee Pension (SEP) IRA and the Savings Incentive Match Plan for Employees (SIMPLE) IRA. While each are designed to help small businesses... [ Read More ]

Setting up Your Future with an Inherited IRA

Whether you have just inherited an IRA from your spouse, parent, or grandparent, an IRA beneficiary can potentially stand to earn thousands, if not millions, on these investments. Inherited IRAs have a few more rules than an IRA you set up yourself, so you can’t just accept the money and forget about it until your own retirement. Depending... [ Read More ]

Yearly Retirement Planning

Retirement planning doesn’t, and shouldn’t, just happen when you set up your accounts and when you’re ready to withdraw, but is a yearly process to keep up to date.  Neglecting opportunities to make the most out of your accounts could result in thousands of dollars worth of losses by the time you reach retirement age. Making the most... [ Read More ]

Roth Conversions — Who, Why, and How

There are many opportunities to help you maximize your retirement investment earnings. One technique many can take advantage of is converting assets from a traditional IRA to a Roth IRA. With a traditional IRA, your yearly contributions are tax deductable now, but you will have to pay income tax on all distributions later on. You will also be... [ Read More ]

What Can You Do With an Inherited IRA?

Nobody likes to talk about death, but planning ahead with your loved ones is a must when it comes to inherited money. Beneficiaries of IRAs have several options available to them once they receive an account, or their share of an account, but some decisions require quick action to prevent major loss of funds. Read on below to... [ Read More ]

IRA vs. 401K, What You Need to Know

You may just be starting to think about saving for retirement, or you may already be contributing to one or both of these types of accounts, but there are significant differences between IRAs and 401Ks that you should be aware of before deciding on which one you want to help build your savings. You may find that you... [ Read More ]

Exceptions to the IRA Early Withdrawal Penalty

You might have hit a rough patch financially, or need an extra boost for a big expense, and remember that you have more than enough in your retirement account to pull from for an emergency. The only problem is you haven’t turned 59 ½ yet, so any money withdrawn from your IRA will incur a 10% penalty. Ouch.... [ Read More ]