Retirement

How to Avoid the 10% Early Distribution Penalty: Part 1 of 2

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According to a 2024 report by the Treasury Inspector General for Tax Administration (TIGTA), Americans made early distributions of $12.9 billion in 2021. Early distributions—those taken before age 59 ½—are subject to a 10% additional tax or early distribution penalty. To that end, the following are some of the strategies that you can utilize to […]

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Understanding the Ins and Outs of IRA Accounts

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An IRA, or Individual Retirement Account, is intended to assist you in saving for retirement. As the name implies, the account is for an individual. It cannot be held jointly with your spouse or another person. An IRA offers significant advantages, including: Tax advantages include tax-free growth on Roth IRA accounts and tax-deferred growth on traditional

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