10 Benefits of a Roth IRA

Why do so many people choose them over traditional IRAs?

The IRA that changed the whole retirement savings perspective. Since the Roth IRA was introduced, it has become a fixture in many retirement planning strategies.

The key argument for going Roth can be summed up in a sentence: Paying taxes on your retirement contributions today is better than paying taxes on your retirement savings tomorrow. Continue reading…

Physician Retirement

Retirement Account Rollovers – The Tax Implications

When physicians consider rolling over retirement accounts, the tax implications should be factored into the decision.

The decision as to whether you should roll over your 401k plan to an IRA, another employer’s 401k plan, or simply to leave it where it is, involves several different factors, including long term investment cost and the availability of investment options within the plans. Both can impact the long term performance of your retirement plan. However, a critical factor that can have a big impact, both short and long term, are the tax implications of a rollover.  Understanding these implications is essential before making any decision regarding your 401k plan. Continue reading…

Physician Retirement

Retirement Accounts – Should I or Should I Not Roll-over?

As physicians change employers, they face the “roll-over” decision – to move their retirement accounts or leave them. Here are some key considerations when facing that choice.

When you change jobs, everything you need to take with you can usually be packed neatly into a couple boxes for your move – everything except your employer-sponsored retirement plan. Of course, you will likely enroll in your new employer’s retirement plan, but the decision as to what to do with your existing 401k plan may not be all that clear. As with anyone who leaves an employer-sponsored retirement plan, you have four options to consider: Continue reading…

Physician Retirement

Understanding IRA Options for Physicians

The essentials physicians need to know about different types of individual retirement account options

It has been more than 35 years since Congress enacted legislation that established the Individual Retirement Account (IRA) as an incentive for individuals to take responsibility for their own retirement security. Since then, billions of dollars have flowed into IRAs held by millions of Americans. Then Congress provided another boost to retirement savings by introducing a cousin version to the IRA known as the Roth IRA. Since then, the challenge for many physicians saving for retirement has been to compare the traditional IRA versus the Roth to determine which is most suited to their needs. Continue reading…