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The Quest IRA Blog

How Much Can You Contribute to A Roth IRA?

Every once and awhile the IRS increases contribution limits or income limits for Roth IRAs. This year, while contribution limits are staying the same, income limits have increased for who is eligible to contribute to a Roth IRA. For 2018, eligible participants may contribute up to $5,500 toward their Roth IRA. If you are older than 50 you... [ Read More ]

When Can You Withdraw from A Roth IRA?

Although it’s best to wait until retirement to use your retirement funds, so you fully benefit from the compounded interest made on your funds, there are times when you may need to make a withdrawal to cover an unexpected expense. Roth IRAs are different from Traditional IRAs when it comes to withdrawal rules, so you will want to... [ Read More ]

Self Employed Retirement Plans

While owning your own business has many benefits, it isn’t always easy. There are many things to consider when you open a business, and one of the most important factors to think about is your long-term plan. Because you are working for yourself, many of the retirement plans that are normally available to those working for a company... [ Read More ]

Should You Open Up Multiple IRAs?

IRAs, or individual retirement accounts, are useful for many different reasons, especially if you are self-employed. There are many benefits that you can get from these retirement funds, and you are able to open up as many as you’d like. However, if you decide to open multiple accounts, it’s important to be aware of the pros and the... [ Read More ]

Can Roth IRAs Be an Option for Teenagers?

When people imagine saving for retirement, generally the idea that people have is that you can’t start saving until you’ve landed a steady full-time job that has a retirement plan tied to it. In reality though, the earlier you can start saving the better off you’re going to be. You’ll save more money for retirement, and you’ll learn... [ Read More ]

Investments That Aren’t Allowed in Self Directed IRAs

One of the major benefits of having a self-directed IRA is the wide array of investment options that become available to you. In normal IRAs your investment options are mostly limited to stocks, bonds, mutual funds and CDs. With self-directed IRAs, however, in addition to the traditional investment options, things like real estate, notes, private placements, and many... [ Read More ]

Fair Market Valuations in Your IRA

Fair Market Valuations (FMVs) are an annual requirement set forth by the IRS to determine the value of the assets in your IRA. An FMV is calculated based on the current price of comparable assets, and how much a knowledgeable and willing buyer would reasonably pay for that asset if it were sold that day, no matter if... [ Read More ]

Self-Directed IRA Contribution Due Dates

Tax Day is April 17th this year, which means you have until that date to file your taxes and contribute to most retirement accounts. Even though 2017 has ended, it’s not too late to meet your contribution goals. Keep in mind that distributions must be made by December 31st of the year reporting (2017) to qualify. Traditional IRAs... [ Read More ]

Retiring on a Self-Directed IRA

Saving for retirement is one of the most important actions one can take to secure their future. Sadly, many Americans haven’t saved a single dollar, or are grossly behind in their yearly savings goals. If this describes you, don’t worry. There are ways to jumpstart your retirement savings and catch up to where you need to be to... [ Read More ]

Beware of Prohibited Transactions with Self Directed IRAs

Self-directed IRAs can be a great retirement option for those looking for more options and flexibility with their funds. However, there are still several rules and regulations to follow when it comes to these types of IRAs, and breaking them can be costly. You may have to pay taxes or fees on your earnings, or your account could... [ Read More ]