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The Old IRA Owner’s Manual

ira-manual-by-gaspartorriero1As you learn more about your IRA, you may have come to realize, as many have, that it would be mighty useful if all the information about IRAs and retirement plans were in one place. That’s a pretty ambitious undertaking – there are literally reams and reams of writings on every type of IRA out there. So what I’ve done is to gather within this index many of the common questions that people have with regard to IRAs and retirement plans – your own IRA Owner’s Manual.

This manual will be an evolving project, since I will continue writing more articles about IRAs, 401(k)’s and other retirement plans, including things that people are asking about, as well as new information as it becomes available. If you have recommendations for topics to include, just leave them in the comments below!

The IRA OWNER’S MANUAL

This manual lays out for you, in common sense language, the specifics of IRAs as they relate to your own situation. In doing so, we’ll talk about how to really make your IRA do some neat tricks. We’ll cover the Traditional IRA (TIRA), and its newer cousin, the Roth IRA (RIRA). We’ll also touch on some specifics of the Savings Incentive Match Plan for Employees (SIMPLE) as a separate topic, since the SIMPLE has quite a few different characteristics that are not shared with the TIRA or RIRA. Where necessary, Qualified Retirement Plan (QRP) information will be added as well – such as information about 401(k) plans.

The IRA is the building block of many Americans’ retirement plans. It can be used to accumulate tax-deferred contributions over your working lifetime, as a conduit for retirement funds when you’re changing jobs, as well as a vehicle to eventually distribute the funds from and perhaps leave a legacy to your heirs. Given the many different roles that IRAs play in today’s world, it makes great sense to have a basic understanding of the characteristics of these accounts.

(click the title below to go to that particular section)

General Information

Roth IRA Conversions

Rollovers (Includes QRP/401(k) Rollovers)

Inherited IRA

Early Withdrawal (72(t) plans)

Special Weapons and Tactics