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The Quest IRA Blog

What is a Backdoor IRA?

Roth IRAs are fantastic ways to grow your retirement tax-free and access contribution funds at any time. However, not everyone can contribute to one. The contribution limits on a Roth IRA vary based on income and marital status. The most someone can contribute to a Roth IRA is $5,500 per year (as of 2018). This limit starts to... [ Read More ]

How is an IRA Taxed?

No matter what type of IRA you choose, you will eventually pay taxes on it. The question becomes, do you want to pay taxes up front or on the back-end at retirement? If you would rather pay taxes now (for example: you think your tax rate will be lower now than in the future), then a Roth IRA... [ Read More ]

What is the Age Requirement to Contribute to a Roth IRA?

With all of the different age limits and contribution limits on the various retirement accounts, it can be confusing keeping track of everything. Roth IRAs are a bit different than Traditional IRAs, including the contribution age limits. Read on to discover when and how much you can contribute to a Roth IRA.   Minimum Age Limit   Surprisingly,... [ Read More ]

Self-Directed IRAs and the American Dream

If you asked a group of people what the American Dream was, you would probably receive a different answer from each person. However, the responses would probably revolve around the central themes of having enough resources to cut down on everyday stresses and/or having a family to share life with. What attracts much of the world’s immigrants to... [ Read More ]

Tips for Investing Out of State

With an investment like real estate, sometimes it makes more sense to take your money to a different state. Whether the market is slow, stagnant, or just not good in your area, many other places around the country are experiencing amazing growth that’s predicted to last a while. Those who get in on the action now can reap... [ Read More ]

What’s Changing with Self Directed IRAs?

While the Tax Cuts and Jobs Act threatened to make big changes with regard to retirement accounts, there were only a few small changes that actually made the final cut. Most of the investment rules and penalties stayed the same for the 2018 year. The changes that were made dealt with recharacterization rules, Roth account income limits, 401(k)... [ Read More ]

Self-Directed IRAs: Three Things You Should Know

Self-directed IRAs are just what they sound like—IRAs that you call all of the shots for. These accounts allow for investments with larger rewards, but you will only reap them if you know what you are doing. Self-directed IRAs are inherently riskier than accounts controlled by a plan manager. Since you are the one choosing the investments, not... [ Read More ]

How to Rollover 401k to IRA

After leaving a job, you may be wondering what on earth you should do with your old 401(k) funds. There are a few options to consider, each with their pros and cons. Always consult your financial advisor before transferring funds, as they can offer advice on which type of transfer is best for your stage of life and... [ Read More ]

What Is the Maximum IRA Contribution for 2018?

Although the IRS has decided to keep contribution limits the same for retirement accounts this year as it was last year, they did raise eligible income levels for Roth IRAs to adjust for inflation and may even help more savers utilize Roth accounts. Here is a quick refresher on contribution limits and income restrictions:   IRA Contribution Limits... [ Read More ]

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 ]