This month’s post was originally shared in September of 2019. The information given below is always good to remember when managing your IRA and retirement money. I hope your …
Unless you have been hiding in a cave (or quarantining to the most extreme levels), you have heard about some form of cryptocurrency. Bitcoin would be the largest and most popular name you might have heard. And you might be surprised to learn that there are currently over 6,000 forms of cryptocurrency!
We have all seen timelines or charts which show a steady, linear progression. This could be an average rate of return on your retirement account with a nice ending balance. Maybe it is a life progression timeline showing graduation, a first job, marriage, a house, a child, family, empty-nesters, to grandparents, to retirement, to finally dying peacefully in your sleep in your late 80’s or early 90’s.
To decide on the appropriate account type, you need to first decide how you foresee using the funds. You also need to determine the amount of flexibility you want. In general, the more flexibility you desire, the less tax-advantages you receive. Below are some account types, common uses, advantages and disadvantages: