Image source: Getty Images Despite what you may have read, it might not be necessary to max out your 401(k) contributions. Key points 401(k)s and other qualified retirement accounts can be great financial tools. However, it often isn’t necessary or practical for Americans to max out their accounts. Here are some situations where contributing less…
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How much should you contribute to your 401k? This article outlines minimum and maximum 401k contribution limits and explains the tax implications of contributing to your retirement plan. In addition, this article will give useful tips for building your retirement savings plan. Read on to learn more. Limits on 401k contributions Employees can contribute up…
Read articleThere are many issues to consider when trading options (including calls and puts) or other stock derivatives in Solo 401k or defined benefit plans. The IRS does not expressly prohibit these trades. However, there are complex rules regarding margin accounts (borrowing money) and a concept called Unrelated Business Income Tax (or “UBIT”). The rules should…
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A bull and a bear are fighting in an area. Can you guess which animal wins the fight? In traditional fights between grizzly bears and bulls, the bears usually won due to their dexterity. Nowadays, these two animals have come to symbolize the stock market. In a bullish market, everyone is happy, 401ks are growing,…
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