Believe it or not, the IRS will allow you to transform your traditional IRA by converting it to a Roth IRA. There are restrictions in place (in 2009) that keep most people who make more than $100,000 from taking advantage of the Roth IRA conversion, but in 2010, these restrictions are lifted and all are welcome to convert.
Archive for the ‘Retirement Account’ Category
Converting to Roth: A Religious Experience
Posted in Retirement Account, Roth, tagged Investing, IRA, Roth on December 1, 2009 | Leave a Comment »
Don’t Even Think of Taking a Loan from Your IRA
Posted in Debt, Retirement Account, tagged 401k, 403b, Debt, IRA, Loan on November 20, 2009 | Leave a Comment »
Are you thinking of taking a loan from your IRA? Think again.
Repaying Your Retirement Plan Loan
Posted in Debt, Retirement Account, tagged 401k, 403b, Debt, Loan on November 20, 2009 | Leave a Comment »
Is it a good idea to take a loan from your 401(k)? In my opinion, it is usually not an ideal source from which to borrow money. Repayment of a retirement plan loan must, in most cases, be repaid in full within 5 years and must be paid in substantially equal payments representing principal and interest at least quarterly.
The Dangers of Borrowing from Your Retirement Account
Posted in Debt, Retirement Account, tagged 401k, 403b, Debt, Loan on November 20, 2009 | 1 Comment »
Is it a good idea to take a loan from your 401(k)? In my opinion, it is usually not an ideal source from which to borrow money.
Limits on Borrowing from Your Retirement Account
Posted in Debt, Retirement Account, tagged 401k, 403b, Debt, Loan on November 20, 2009 | Leave a Comment »
Is it a good idea to take a loan from your 401(k)? In my opinion, it is usually not an ideal source from which to borrow money. If a retirement plan does offer loans, it is up to the plan to provide a limit on the amount that can be borrowed. Most plans that offer loans, however, simply apply the maximum limits as defined by the IRS.
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