Rethink Your Rollover

Posts Tagged ‘bank’

wells fargo ira services

Question: I want to open a SEP IRA, rollover my 401k, and do stock trading…all with one company. Who’s the best?

I use Fidelity for my 401K, Ameritrade for my stocks, Wells Fargo for my checking accounts, INGDirect for my savings account, Chase for my credit cards and HELOC, and WaMu for my mortgage. I’m looking to consolidate a bit, so I don’t have to deal with so many different log-ins and interfaces. I also need to open a SEP IRA before the tax deadline. If I want to at least consolidate my 401K, SEP IRA, and Stock Trading with one company, what company should I go with? Schwab? Ameritrade? Fidelity? WellsFargo? ETrade? A different company? My must-haves are:
1. No/Low Fees
2. Good Customer Service
3. Intuitive Online Interface
4. Fast and easy set up (e.g. account set up, rollover, initial deposit, etc.)

Thanks for your help!!!

Answer: Vanguard will give you the lowest fees.

Schwab will probably give you the best service.

basic ira information

Question: Have the authorities acquired too much power in recent years?

There are now more cameras on Britain’s streets than anywhere else in the world. Police have acquired powers to detain people for weeks without charge, phone lines are allowed to be tapped, internet and email records can be hacked, bank and medical information can now be reviled without consent, and soon we will all be forced to carry ID cards full of our personnel information. In addition there are plans to have sat navigation in every car in Britain to monitor exactly where and when we have been. I live in London and to use any public transport we will all have to use an oyster card, this also monitors exactly where and when we have travelled. I understand the authorities need to tackle crime but are we giving up our basic freedoms to protect our way of life? I appreciate we need to do all we can to tackle terrorism but are the authorities taking advantage of the current climate of fear; this didn’t happen during the IRA’s campaign of attacks.

Answer: way too much, i dont like conspiracy stories they can do your head in but the theory of one world government is getting less and less conspiracy and more factual every year.
we are being herded like mindless sheep into a total security controlled state and we just shrug it off and accept it.
its frightening how the state has made us like goldfish in a bowl, the faceless money people behind governments use whatever means to further their twisted agenda and personal freedom and liberty is fast dissapearing.
people will as has been proven, put up with almost anything foisted upon them in the name of national defense, americans are really being hammered now as well, by the bush administration.

The Business of Real Estate 4 of 5 – IRA Investing

Roth IRA yield

Question: Dividend capturing in Roth IRA – Any restrictions?

I am 16 and started a Roth IRA earlier this year and have been activity trading it (in addition to my other trading accounts) during these huge swings in our markets. However, I can’t see this kind of volatility continuing indefinitely and am looking into other high-yielding, but lower-risk trading techniques.

One that was very interesting to me was capturing dividends by buying right before an ex-div date and then selling right after. However, with typical trading you have to hold the stock for 61+ days to get taxed as a dividend.

My question is, since I have a Roth and therefore never report my gains/losses to the IRS or anybody else, do I still need to hold onto the stock for 61+ days. Or can I buy before ex-div and sell immediately after, and still receive the dividend on payment day?

Thanks!
I do have the earned income (I had over $5k in self-employment income this year and have contributed the max of $5k to my Roth).

Answer: In a Roth IRA you can buy and sell as much as you want and declare nothing. You must watch the day trading rules or your account gets locked up. To avoid this I kept one share of every stock I day traded in my account. Unless you open and close a position in the same day it is not a day trade. Since I always had one share I never opened or closed a position and was free to buy and sell a stock 10 times a day if I choose to.

Personal Finance & Money Management Tips : High-Yield Dividend Stock Tips

discover bank ira cds

How does an individual go about finding the absolute best IRA rates in an economy that is in a downturn? Why is it that ira cd rates are always lower than those of traditional CD’s? Let’s take a look at how you can make the best use of your retirement funds.

With the way that the markets fluctuate it is always tough to keep track of who is offering the best IRA rates. The current rate of a 5-year IRA CD is 3.69%, which is down from 3.91% from this time last week. The rates fly up and down so much that cashing in at the wrong time could end up costing you a lot of money.

Many people are confused at the way the CD rates are calculated. A lot of them can’t comprehend why ira cd rates are typically lower than those of traditional CD’s. The answer is simple though, the higher rates on traditional CD’s are meant to attract new business to the banks.

With the stock market taking 400-point swings per day on average it is extremely difficult to determine where the best IRA rates are going to come from. These are very difficult times that this country and its citizens are going through financially, and it is a time when everyone is looking for a safe haven for their savings.

Due to the fact that the stock market has been going through such a bad time, many investors that are either averse to risk or don’t have enough experience to understand how to weather the storm are switching their money to low risk government bonds and CD’s despite the fact that the ira cd rates are lower across the board.

Although I have said that traditional CD’s do have higher rates of return as far as interest goes, you have to consider that you are also taxed on your quarterly returns. This means that even if the best IRA rates are lower you still have a good chance of walking away with more money in your pocket.

Although the ira cd rates have been adversely affected by the stock market fluctuations things should start to look up soon. I’m almost sure that once the government’s new economic recovery plan begins to take hold that everything will slowly begin to creep back up.

Many people have discovered that the best IRA rates can be found in the real estate market. Because of the economic downturn this is actually one of the best opportunities that you have to get a high return from investing your IRA funds in housing and property.

You can also use your retirement funds to finance homes for other people. Many people have used this method to generate thousands of dollars per month, which is far more return than they would have ever gotten through the use of more traditional means of investing.

So, if the current state of ira cd rates has you down then you may want to try your luck at getting the best IRA rates through real estate investments.

 

About the Author:

Robert Ruby invests in Real Estate and researches the best way to find capital for his investments. He buys property with no money down, and also uses the assets in his 401K and IRA accounts to invest in Real Estate. He invests in a company that offers turn-key investing in Real Estate. This company is different because it offers Socially-Conscious Investing To Empower Urban Communities. Go to his website at http://www.increase-ira-returns.com/ to find out more about the company that has proven itself over and over again to help grow wealth. Or go to his website at http://www.buying-cashflowing-realestate.com/ for info about credit investing.

Source – Where are the Best IRA Rates?

simple ira loans

Is Wall Street a scam?! Well, actually, while we might believe it is at times, most likely it is not. But with all the rash of problems that Wall Street has realized in the last 12 months, one does definitely wonder. And, since there are plenty of articles devoted to the woes of Wall Street, this one will not do that but, rather, take a higher road of education on what options are available to individuals who wish to protect, nurture and grow their retirement accounts.

It is literally amazing and not so amazing that most individuals (estimated at 98% percent of individuals) do not realize that they are empowered to self-direct their own retirement accounts. Surprising in the sense that this option has been available to them since 1975 and very few know about it. Not surprising in that certain professionals in the financial world feel that it is not in THEIR financial interests to inform people that this option exists.

Now, yes, there are exceptions to individuals not being allowed to do self-direct — chiefly, that individuals cannot, as a general rule, self-direct retirement accounts from employer plans where they are currently employed.

What is a self-directed IRA or 401K? Well, let’s use simple terms. It is merely the opportunity to invest your retirement account assets into practically anything you feel is a good investment. Now, as with all things in life, there are certain investments (i.e., life insurance contracts, collectibles defined under IRS Code) that are not permitted. There are additional restrictions placed so that people do not enter into self-dealing, prohibited transactions and investing with disqualified individuals.

BUT, here is the simple truth: If you could direct your own retirement assets into a plethora of investment opportunities, wouldn’t you at least want to consider this? Also, if your retirement account was established in such a way where you could have the best of both worlds in one account — the ability to invest in both “traditional” (e.g., stocks, bonds, mutuals funds) and “non-traditional” (e.g., real estate, hard money loans) assets — wouldn’t this be the cat’s meow (technical term there folks!). Not only is this possible, but it is totally legal; provided, of course, that all IRS and Department of Labor regulations are met and adhered to.

A great quote from Tama McAleese, CFP in Get Rich Slow, notes The Million(s) Dollar Mistake that most individuals can make. McAleese states, “As a result (of others controlling your money), you’ve been lulled into a sense of security, believing someone else is standing guard over your hard-earned money and, thus, guaranteeing your financial future.”

As a simple real-life example of this, an individual that I am quite familiar with had an IRA that held a value of approximately $150,000 12 months ago. Currently, his account value is a little over $53,000! Now, to be sure, self-directing your retirement account assets does not in any way ensure that you will make money or experience greater results, but it puts the power back with the individual who actually CARES about how their retirement account is performing — the power to research their own investment opportunities and invest in what they believe to be in their short and long-term financial interests.

An amazing statistic from the Investment Company Institute and Internal Revenue Service Statistics of Income Division found that at the end of the 2004 year, there was in excess of $3.475 trillion of retirement plan assets. Of this money, 83%…..that’s right, 83% of those funds were invested in stocks and mutual funds. Less than 1% was invested in real estate….even though much of the self-made wealth in this country was as a result of investing in and owning real estate. Think about it. Also, of that “paltry” $3.475 trillion dollars in retirement plan assets invested into stocks and mutual funds, do you think that commissions were paid to brokers….whether an individual achieved gains or lost money? You know the answer to that.

Oh, you might be thinking that the aforementioned statistic goes back to the end of the 2004 year and things have drastically changed as of September 2008?! Well consider this statistic as noted by a July 1, 2008 article in the USA Today which stated that in 2008, the market has lost 2.1 trillion dollars in value, $1.4 trillion in the month of June, alone.

Finally, if anyone believes that the “average” retiree is retiring with financial dignity, consider an important statistic as first published in the November 27, 2005 edition of the Christian Science Monitor. This article identified that the median income of individuals 65 and over was just $15,199. And, unfortunately, a large portion of this income came from social security.

Let’s face it…..Hope is not a Strategy! If you are an individual who has done well with the traditional offerings of stocks and mutual funds, congratulations! But, for those of you who haven’t and are looking for options and further diversification strategies to the “traditional” world of investing outside of these asset classes, consider self-direction. It may be more lucrative and you won’t be relying on someone else to control YOUR MONEY.

John R. Park is President of PGI SelfDirected and co-founding Partner of Fulcrum Investment Network.

About the Author:

John R. Park is President of PGI SelfDirected and co-founding Partner of Fulcrum Investment Network

Source – Is Wall Street a Scam?! — Consider Self-directing Your IRA or 401k

Khavari for Governor – Bank of the State of Florida