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What are the pros and cons of choosing between an annuity and an IRA for retirement savings?
Annuities offer guaranteed income for life but have higher fees and limited investment options. IRAs provide more investment choices and tax advantages but don't guarantee income. Choose based on your retirement goals and risk tolerance.
How safe are the annuities?
is my IRA annuity safe from creditors and mortgage foreclosure
Where might one find detailed information as to a Roth IRA vs a 401k?
One might find detailed information as to a Roth IRA vs a 401k at Schwab's website. Schwab offers a lot of pros and cons of having either a 401k or a Roth IRA.
What is the difference between traditional ira and roth ira?
In a traditional IRA, you pay the taxes back when you withdraw the retirement funds. With a roth IRA, however, you pay the taxes before you withdraw the money, and then you don't have to worry about them after. Which one is better is going to depend on your own individual situation. They both have their pros and cons. For most people, though, a roth IRA is the better choice.
What are the benefits of investing in a Roth IRA?
Investing in a Roth IRA offers benefits such as tax-free withdrawals in retirement, potential for long-term growth, and flexibility in accessing funds.
What are the pros and cons of choosing between an annuity and an IRA for retirement savings?
Annuities offer guaranteed income for life but have higher fees and limited investment options. IRAs provide more investment choices and tax advantages but don't guarantee income. Choose based on your retirement goals and risk tolerance.
Do you pay taxes on income in a traditional IRA?
Not until you take it out of the traditional IRA. The one exception would be taxes on what is called "Unrelated Business Income." If you are investing in stocks, bonds, mutual funds, insurance policies, annuities, or bank accounts and your IRA is not borrowing money, you don't have to worry about this.
How safe are the annuities?
is my IRA annuity safe from creditors and mortgage foreclosure
Where might one find detailed information as to a Roth IRA vs a 401k?
One might find detailed information as to a Roth IRA vs a 401k at Schwab's website. Schwab offers a lot of pros and cons of having either a 401k or a Roth IRA.
What is the difference between traditional ira and roth ira?
In a traditional IRA, you pay the taxes back when you withdraw the retirement funds. With a roth IRA, however, you pay the taxes before you withdraw the money, and then you don't have to worry about them after. Which one is better is going to depend on your own individual situation. They both have their pros and cons. For most people, though, a roth IRA is the better choice.
Where can I go to start investing into a 401k ira?
You can start investing into a 401k ira at any bank or financial institutions. Read more at www.ducksoftware.com/get-out-of-debt/401k.html or www.rocketnews.com/ira-401k/
Are annuities protected when filing bankruptcy?
Only if they are in a qualified retirement plan, like an IRA.
Where can I find information on finance and investing?
This website is excellent for finding information on Finance and Investing, and specifically on converting a Roth to an IRA: http://www.smartmoney.com/calculator/retirement/should-i-convert-my-ira-to-a-roth-ira-1304481621417/
What are the benefits of investing in a Roth IRA?
Investing in a Roth IRA offers benefits such as tax-free withdrawals in retirement, potential for long-term growth, and flexibility in accessing funds.
Can you rollover an IRA over into anything but another IRA?
Yes you can but you will have tax consequences. You placed this ? under annuities. You can roll your 401K or IRA into an annuity with no tax issues. And with current guarantees of 6% for the next 10 years why not?
What can investing in a Roth IRA now give you in terms of financial security?
Investing in a Roth IRA can ensure that you have money years down the line. When money is invested correctly, you can live off of the residual income.
Are index annuites with IRA a good investment?
The lowest fees will be with an index fund that is offered through a mutual fund. The benefits of annuities are often the same as an IRA and you would be over paying for the same thing.
