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What is an IRA and why you should contribute to it.

Posted on May 10, 2014May 10, 2014 by Richard the MBA

Like a 401(k), an IRA is a retirement savings account. You put money in it, and use that money to invest. But unlike a 401(k), an IRA does not have an employment requirement. IRA stands for Individual Retirement Account; anyone, even if he is not employed, can contribute to an IRA unless his income is too high. This works perfectly for freelancers such as my friends that are dancers and do not work for any particular company.

Velocity Dance Center, everybody!
Velocity Dance Center, everybody!

Continue reading What is an IRA and why you should contribute to it.

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Posted in Cost saving, Investment, retirementTagged 401(k), brokerage account, invest, IRA, mutual fund, retirement, retirement savings account, stock, stock investment, tax1 Comment

Introduction to retirement savings accounts: Traditional/Roth 401(k)/IRA, what are they?

Posted on May 8, 2014May 8, 2014 by Richard the MBA

I’m sure you have heard of these terms before. They probably appear on the media more frequently than the Kardashians. Traditional 401(k), Roth 401(k), Traditional IRA, and Roth IRA are 4 types of retirement savings accounts.

 

ira-roth-401k Continue reading Introduction to retirement savings accounts: Traditional/Roth 401(k)/IRA, what are they?

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Posted in Investment, retirementTagged 401(k), brokerage account, invest, investment, investment account, investment return, IRA, mutual fund, retirement, retirement savings account, Roth, tax, Traditional6 Comments

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