Self Directed Investment Experts Jeff Nabers & Eric Wikstrom discuss the investment habits of the wealthy as indicated in the annual World Wealth Report published by Merrill Lynch. (Excuse the oustide noises, this was shot in a lower floor of a downtown building)
And, how would opening one impact how much I can save in my traditional 401k and in my Roth IRA?
So, if I currently contribute K annually to my 401k and K annually to my Roth IRA, I would have to cut back on my contributions, but to which one? The 401k or the Roth IRA? Or are there "Self Directed" versions of both?
I have an existing traditional IRA and two 401k‘s from previous companies. I’d like to consolidate accounts.
Is there reason I should roll the 401k‘s into a rollover IRA instead of directly into my existing traditional IRA?
Are there any consequences regarding maybe later converting the IRAs to Roth IRAs later?
I opened a money markey IRA, and was going to converit it to a Roth IRA (im 23) and have rolled my ,500 from my 401K into my new IRA. When will I have to pay taxes on my ,500 and when will I pay taxes on my new contributions? Im not sure if I should keep the money market, or change to the Roth. Thanks!
I am looking to perform a rollover or transfer from my 401k into a self-directed IRA. I was wondering what, if any, tax implications I would be facing. Additionally, once that money hits the IRA I am looking to use those funds to start up a general contracting business building residential properties. Once again, I’d like to avoid tax penalties if possible, and I was curious to know whether or not taking the money from the IRA to use for my business would be considered a taxable event, or whether these transactions are tax-deferred or tax free. I’d appreciate thorough responses only please. Thank you!
