Stock Market Today

A Roth IRA is an individual retirement account that is similar to a Conventional IRA but with certain differences. Unlike a conventional IRA, which is pretax or tax deductible, a Roth IRA is paid into after taxes have already been taken out. This means that if you invest in a Roth IRA, when you withdraw [...]

A 401K is an employer-sponsored retirement plan that makes it possible for employees to deduct a percentage from their paychecks, which are invested into the fund. The amount that is put into a 401K is tax deductible, up to certain limits. Typically, companies offer to contribute a certain amount as well to each employee’s account. [...]

Annuities come in many forms and are classified several different ways. For tax purposes, the classifications are either qualified or non-qualified. Qualified annuities are a type of annuity that are purchased for funding a qualified retirement account such as an IRA, 401K, 403(b) tax deferred annuity, or other retirement plan. If the requirements are met, [...]

Retirement annuities are like an individual pension plan. They come in many different forms including immediate, deferred, fixed, and variable. For example, if you put your money into a deferred annuity during your working years, the money will accumulate on a tax deferred basis until you are ready to take it out, usually at retirement. [...]

The Internal Revenue Code and the Employee Retirement Income Security Act of 1974 spell out several requirements that a retirement plan must meet in order to be considered a qualified retirement plan. When a retirement plan meets the requirements, tax benefits kick in. The employer can deduct allowable contributions made on behalf of plan participants [...]