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Traditional versus Roth IRA - 28-Mar-2009
This is the time of year we are all looking for all the deductions we can get. One of the most popular questions I get, is should I go with a Roth or a traditional IRA because I don't really understand all the differences? So here are the facts as you head into tax season..
Roth IRA vs. Traditional IRA
We all dislike paying taxes very much yet there is a way to completely avoid paying taxes on retirement savings, and for some reason it is very unpopular. With a Roth IRA your retirement investments grow tax free. So whatever amount you have in your Roth IRA you can plan on that for retirement knowing you will never have to subtract the amount you will have to pay gains taxes on later in life. Your investments will grow tax free.. Only 19% of working Americans have Roth IRAs though 90% are eligible for them. Why is this and what are the details?
* Roth IRAs flip the timing of the tax break. Contributions are not tax deductible, but will grow tax free and will never again be taxed.
* There is no limit between the contributions you can make to a Roth IRA or Traditional IRA. In 2009 you can put a maximum of $5K into either types of IRAs ($6K if you are 50 or older. This equivalence means you often get more bang for your buck from Roth IRAs. Example: if you put $5K in to a Roth this year, assume an 8% annual return, and leave it untouched for 20 years you would end up with $23,305 at the end of that period. To get that same amount in a traditional IRA you would have to contribute about $6,750 initially, let it grow and then pay income tax on the gains of 28% (assuming your in that bracket), but you can only invest up to $5K. I do not know why the contributions are the same, but this is one of those strange tax laws that we can take advantage of if we plan. Now you won't get the tax deduction so you would lose out on a $1,400 deduction that you could invest in a tax advantaged account (but will you?) but you would still come up short. If you
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Book Signings: Financial Planning Made E-Z / Financial Planning - 24-Jan-2008
I will be on radio station 990AM this Saturday from 9:00-9:30 am talking financial planning. Listen in! Additionally, come meet me at one of my book signings! I do signings all over. If you have a Barnes & Noble or Books-A-Million around you that you think would draw a good audience, let me know and I will set up an event. Or if you just want to set up a business or church seminar, financial planning is becoming increasingly important.
If you have the need for personal financial planning or a financial planning seminar, give me a call at (940) 597-1632 and we can set up something.
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Site Feedback - 30-Aug-2007
We are constantly looking for ways to improve the site. Tell me what you think. I like to hear your comments on anything you think I can improve or additional components I should add to my site or newsletters. Use the feedback form under the Site menu or send a note to hunter_hardy@verizon.net.
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Read Other Member's Feedback - 30-Aug-2007
I constantly receive comments from InvestmentHunter members. You can read about them via the Site Link (Member Comments):
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My name is Hunter Hardy and I founded InvestmentHunter six years ago and provide comprehensive wealth services which include money management and financial planning. I started out with newsletter subscriptions for investing and trading and ultimately moved to comprehensive money management on the encouragement of many of my clients. Many of these people have the desire and commitment level, but they just don't have the time or investment/financial background needed to put together an effective money management strategy.
I have 30 years of education and experience in Finance/Financial Planning and have had a very strong track record in the financial markets over the last three decades.
I use a unique, disciplined approach which combines fundamentals, technicals, disciplilned money managment coupled with a joint risk/reward policy for each client. Each client is unique and we put together joint objectives to help them meet their wealth objectives.
In a market as complicated as this one I have several disciplines that I have learned from years of experience when I personally handle an account that will add cash flow to your account.
In addition to the benefits of my unique disciplines by using my money management services, one won't have to spend time on ensuring things get processed and staying on top of investments or trades. Second, a client will never miss out on transactions when there is a small window to move. Third and most importantly, I can generate a lot more cash flow (covered options), reduce risks (emerging markets, short-term treasuries, or getting smaller quickly, etc.), and get in and out of markets quickly when I need to do so.
You won't find anyone that takes making you money more seriously or stays on top of things more completely. 80% of mutual funds don't even beat the market average returns. I have made beating the market my norm. If you would like to talk to me about this further do not hesitate to give me a call at (972) 900.5142.
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Meet Hunter Hardy
Hunter's Investment Philosophy |
My book titled "Financial Planning Made E-Z" is on the web at Amazon and Barnes and Nobles and was in many Barnes & Noble and Border bookstores from 2003 through 2006. I also write financial planning columns periodically for three local newspapers. |
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Because of my success in these areas, I have been able to work for myself after 23 years in the corporate and small business world as President, COO, or middle management positions.
I handle money management as the key component of the wealth services in which I provide, but also work with clients on other areas that affect wealth preservation, growth, and administration.
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If you are interested in putting together a plan to help you in other areas of finance such as personal finance planning, tax planning, insurance planning or estate planning do not hesitate to give me a call at (972) 900.5142 or send me an email at hunter_hardy@investmenthunter.net.
I also do personal financial plans, financial planning seminars, trading seminars,and public speaking. | |
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