Sit. Stay. Rollover.
More Investment Articles
Short Term Futures Trading is Driven By Trading Tactics Around Support and Resis...
A day trader HAS To to understand the concept of support and resistance. The vast majority of short term institutional traders trade around support and resistance levels clearly seen on their charts. If you do not understand the game, you can never succeed.
Learn Forex trading - 10 Essential Tips and 10 Myths to Avoid For Huge Profits
If you want to enjoy forex trading success, you need to avoid the 10 common myths enclosed and follow the 10 tips - if you do you will learn forex trading the right way and could make a lot of money so here they are. Let's start with the 10 myths first: - Day trading is a good way to make money - You need to predict in advance to win - Buy low sell high is the best way to make money - The more knowledge I have the better knowledge is power - The more complicated my forex trading system the better - I don't have money management strategy I just place a stop - I like to trade the news stories - I follow an expert or guru as they know best - Human nature is constant so markets are scientific - You never broke taking a profit Believe any or all of the above forex myths and you will lose! Here are your ten tips to help you get on the right path and learn forex trading the right way: 1.
What Is A Futures Contract
Futures contracts are based on a standardised unit of some commodity. For example, 5,000 bushels of No. 2 yellow grade soybeans. Some contracts are based on artificially created commodities. For example, 5 times the Dow Jones index. (If the Dow Jones Index is 10,000 then this contract value would be $50,000.
Forex Education - How To Avoid the Fatal Mistakes of the Losing Majority Part 1
If you read a lot of material on the net you would be forgiven for thinking forex trading is "a walk in the park" but if you are serious about getting the right forex education you will realize this is not the case and you wouldn't expect it to be with the rewards on offer. You can however enjoy currency trading success, if you understand the following.
Forex Trading - How many technical indicators do you use'.or need
Being one of the Power Course instructors allows me to see the charts that new traders use for their trading decisions as they will send them to us for our opinions. I must say that many of them are so cluttered with indicators, lines and how knows what else that I have a hard time seeing the currency pair or time frame of the chart.
Geothermal Stocks
By now you've seen the Chevron commercial touting their research and investment in alternative energy, including geothermal power. And even though a major oil company is just now expressing its interest, the black sheep of the renewables world is one Green Chip accepted long ago. Geothermal , unlike wind, solar, and biofuels, rarely gets a piece of the limelight.
Bard Ventures Awaits Assay Results at its Lone Pine Molybdenum Property, BC
Shakespeare said that "every man has business and desire, such as it is." For Bard Ventures (TSX.V: CBS), that business and desire is to find BC's next molybdenum mine as it completes the latest phase of a 10,000 meter diamond drill program on its Lone Pine Property in the northern part of the province.
Sit. Stay. Rollover. With just some basic preparation you and your financial planner could have your retirement fund trained to overcome obstacles with the grace of a champion pedigree.
Is it possible to train your retirement plan We think so.
Maybe you're about to change jobs, change companies, or change your career completely. Whatever change is afoot, we don't have to remind you how important it is to keep an eye on your retirement funds during tumultuous times. Assets for your retirement should be able to respond to any possible changes with ease. All it takes is a little training.
If you're changing jobs and have an existing retirement plan, such as a 401(k), you should already have a Summary Plan Description in your possession. This will describe your retirement plan and the options available to you, regarding your old (or, soon to be old) companies plan. You want to share this document with a financial professional so the two of you can decide what option fits you best. Many companies have restrictions on what can and can't be done with your retirement fund. As with most financial planning, a little education goes a long way and knowing the details of your plan will help make the transition a bit smoother.
Generally, you'll have three major options for your retirement fund when changing jobs. You can withdraw your investment savings and keep the money as a lump sum (sit), you can leave the money where it is (stay), or you can "roll over" your retirement savings into another retirement plan or an IRA. Each option has its pros and cons. Depending on your situation in life and in your career, you'll want to consult a financial consultant and choose the option that makes you feel most comfortable.
If you choose to withdraw your money in a lump sum from a previous employer's retirement fund, you must pay taxes on the money you withdraw. On top of those taxes, your employer is required to take a 20% withholding from your lump sum, and if you are under age 59 ½, you may also be forced to pay a 10% penalty tax. You may roll over the lump sum and avoid the penalty provided that you deposit the funds in an IRA or another employer plan within 60 days. You will have to make up the additional 20% withheld by your employer. The 20% withholding will be deducted from your reported income when your taxes are due.
Leaving the money in your current plan is one option when changing jobs or companies. However, you must also be aware of any possible regulations and restrictions your old company has placed on your money in that retirement plan.
If you choose to roll it over, you may have the option of rolling your assets into either an IRA or your new employers plan. However, to avoid paying taxes and penalties, you should have these assets transferred directly to another IRA custodian. This rollover will still have to be reported to the I.R.S. One downside is that your retirement rollover cannot be rolled into a Roth IRA. However, you may qualify for a Rollover IRA which can than be rolled into a Roth IRA, but you must meet certain qualifications. Once a Rollover has been put into a Roth, you cannot roll the Roth into another employee-sponsored retirement plan.
There are, however, exceptions to the rules of roll-overs for first-time homebuyers. If you're emptying out your former retirement fund and wish to use up to $10,000 towards the purchase of a first home, you're allowed to do so. You are taxed on the withdrawal, but you do not have to pay the extra 10% early-withdrawal fee. You also have up to 120 days to use the $10,000 on a first-time home purchase rather than the basic 60 days.
These are just the basic options you may have when changing careers and retirement plans. Deciding what to do with your retirement savings when changing companies or careers is one of the most crucial decisions you make. By working with a financial professional, they'll make sure you're aware of the many options available to you. And by being prepared in advance, you'll know when it comes time to confront change, you'll be ready.
About the Author
J. Graydon Coghlan, President/CEO of Coghlan Financial Group, Inc, is a Registered Representative with Securities America, Inc., a Registered Broker/Dealer, member NASD/SIPC. Advisory services offered through Securities America Advisors, Inc., A SEC Registered Investment Advisory firm. He can be reached at or by e-mail at or visit our website at: http://www.coghlanfinancial.com
Source: Investment Articles on ArticlesTree.com
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