What are the main differences between a Simplified Employee Pension (SEP) IRA and a Traditional IRA?

June 30, 2024 No Comments

A: A simplified employee pension IRA is a type of traditional IRA that is designed for self-employed individuals or small business owners. For the most part, SEP IRAs and traditional IRAs are similar. However, when it comes to contributions, there are some major differences between

What are the main differences between a Simplified Employee Pension (SEP) IRA and a Traditional IRA?

July 7, 2024 No Comments

What are the maximum Social Security disability benefits?

June 30, 2024 No Comments

A: The average Social Security disability benefit amount for a recipient of Social Security Disability Insurance (SSDI) in 2018 is $1,197 per month, but a beneficiary can receive either less than this or up to $2,788. These benefits are based on average lifetime earnings, not on household

What are the maximum Social Security disability benefits?

July 7, 2024 No Comments

What are the most common scams regarding Social Security benefits?

June 30, 2024 No Comments

A: There are a number of common scams that target Social Security benefits. These scams generally involve criminals who impersonate Social Security workers or companies, so that they can obtain Social Security numbers and other personal information. Receiving an Extra Social Security Check One popular

What are the most common scams regarding Social Security benefits?

July 7, 2024 No Comments

What are the penalties for withdrawing from my Traditional IRA less than a year after acquisition?

June 30, 2024 No Comments

A: Withdrawals from your Traditional IRA will be treated as ordinary income, and if you are under age 59.5 when the distribution occurs, the amount will be subject to an early-withdrawal penalty of 10% (of the amount withdrawn). The amount will be exempted from the

What are the penalties for withdrawing from my Traditional IRA less than a year after acquisition?

July 7, 2024 No Comments

What are the pros and cons of naming a trust as the beneficiary of a retirement account?

June 30, 2024 No Comments

A: In the financial community, this has been a topic of an ongoing debate between estate planning attorneys and financial advisors. For retirement accounts, investors are given the opportunity to name both primary and contingent beneficiaries – that is, the person or entity who will

What are the pros and cons of naming a trust as the beneficiary of a retirement account?

July 7, 2024 No Comments

All Rights Reserved