Entries filed under 'IRA Business Building Ideas'

    Catching the IRA Wave

    March 26, 2015 5:30 PM by Brian Dobbis

    As April 15 approaches, the window is closing on the opportunities for advisors to capture both 2014 and 2015 IRA contributions.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    With only a few weeks left in the IRA season, this week’s blog contains a compendium of both IRA limits and business-building ideas. Remember: Virtually anyone with a reportable earned income is eligible to fund an IRA. Earned income is the sole requirement. Also worth repeating: through April 15, 2015, investors can still fund IRAs for 2014.

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    Putting Your Clients' Tax Refunds to Work for Them

    February 26, 2015 1:50 PM by Brian Dobbis

    The IRS allows taxpayers to deposit their refunds directly into IRA accounts. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    With tax season in full swing, a number of taxpayers will be receiving federal tax refunds. This represents a tremendous opportunity for them to save for their retirement in a fairly painless way, by having their refunds automatically deposited into an IRA. Individuals may be able to contribute up to $5,500 ($6,500 if age 50 or older at the end of 2014) to a traditional, Roth, or SEP IRA (but not a SIMPLE IRA). 

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    In-Service Distributions May Fuel Rollover Market

    February 12, 2015 4:00 PM by Brian Dobbis

    Most employers permit workers to take distributions from their plans for the purpose of rolling them over to IRAs. This presents a potentially significant opportunity for advisors who want to build their IRA business.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    Assets in 401(k) retirement plans currently represent $4.5 trillion of the $6.6 trillion in assets invested in defined-contribution plans.1 Moreover, private-sector defined-benefit plans have an additional $3.2 trillion invested.2 This, coupled with more Americans living later into their golden years, creates extraordinary “money in motion” rollover opportunities.

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    Roth IRAs: It's Never Too Late to Save

    January 29, 2015 2:20 PM by Brian Dobbis

    Roth IRAs can be funded at virtually any age. That means individuals can fund accounts with the intention of passing them on to heirs. Beneficiaries inherit the potential to withdraw the funds tax-free. 

    It has been well established that people generally can expect to live considerably longer than previous generations—and they should plan accordingly. With that in mind, individuals who are approaching or already in retirement shouldn’t be discouraged from establishing retirement savings accounts later in life. On the contrary; advisors whose clients are mindful of their legacies might want to encourage them to establish Roth IRA accounts with the intention of leaving the assets to their heirs.

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    IRA Season 2015: Almost Anyone Can Participate

    January 2, 2015 12:45 PM by Brian Dobbis

    The three months leading up to the April 15 federal tax filing deadline are considered peak IRA season, when investors still can make contributions for the year just ended, as well as for the new year.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    In 2014, Individual Retirement Accounts (IRAs) celebrated two milestones: turning 40 and surpassing $7 trillion in assets. And they show no signs of slowing down. IRA assets are due to increase to more than $9 trillion by 2018. A significant portion of this growth is being fueled by rollovers from 401(k) and other workplace retirement plans.

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    Retirement Planning Opportunities Should Abound in 2015

    December 23, 2014 1:20 PM by Brian Dobbis

    The road to retirement is long and winding and filled with questions about when to retire and with what income. Now is the time to look at the key retirement deadlines and regulatory changes for 2015.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    When, less than a month after taking office, President Gerald Ford signed into law the Employee Retirement Income Security Act of 1974 (ERISA), American workers gained unprecedented flexibility to accumulate assets for their golden years. That pension reform bill created the Individual Retirement Account, or IRA—a powerful savings tool with the potential for tax-deferred growth.

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    The Gift that Keeps on Giving

    November 20, 2014 3:45 PM by Brian Dobbis

    A Roth IRA carries the potential for future tax-free income and could be the gift of a lifetime for a young adult.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    You are not likely to find this item on your teenager’s holiday wish list. In fact, most young adults don’t even know they want one, and typically they need a little time to fully appreciate it. But once they discover the potential power of this gift, their gratitude will be sincere. I’m talking about a Roth IRA—one of the rare gifts that really does have the potential to keep on giving.

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    Backdoor Roths: An IRA Strategy for High-Income Earners

    October 30, 2014 1:25 PM by Brian Dobbis

    Going through the back door can pay off for upper-income retirement savers.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    When the Federal government allowed the establishment of Roth IRAs, it closed the door on certain high-income earners. The front door, that is. Advisors who have such clients might want to bring them around back, where the door is likely to be open.

     

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    Reality Check on IRAs

    August 14, 2014 4:00 PM by Brian Dobbis

    Misconceptions about eligibility may explain why only 15% of qualified individuals have IRAs. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Anyone who has compensation (i.e., earned income, as defined by the IRS) is eligible to fund a traditional IRA or a Roth IRA. The sole exception to the earned-income requirement is a spousal IRA, which is funded by a working spouse on behalf of a spouse who has little or no income. Spousal IRA rules permit a working spouse to fund an IRA in the name of the nonworking spouse.

    Although it is easy to become eligible to contribute, only an estimated 15% of eligible taxpayers made an IRA contribution in tax-year 2012, according to the Investment Company Institute. The low participation rate can partly be attributed to investors’ misconceptions about eligibility and compensation

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