Are you neglecting one of the most precious assets that you have? When it comes to individual retirement accounts or IRAs, many people have a practice of “fund it and forget it”. But there are strategies you can implement to help maximize the money it generates. The “Dynamic Duo” of financial planning, Joe Anderson, CFP®, and Alan Clopine, CPA, will help you Re-Boot Your IRA!

Download the Ultimate IRA Guide:

IRA Reboot Overview:
· IRA 101 – Individual Retirement Accounts Explained
· Assess Asset Allocation & Location
· Invest for Success

0:00 – Intro
2:08 – Re-Boot Your IRA
3:37 – Types of Accounts
4:27 – Contribution Limits
5:41 – Who Qualifies
7:53 – Download the Ultimate IRA Guide
8:50 – True/False: You can’t contribute to a ROTH IRA if you do not file a tax return to show your income?
10:30 – Asset Allocation vs. Asset Location
11:58 – Asset Allocation
14:48 – Allocation Determiners
16:10 – Download the Ultimate IRA Guide
17:00 – True/False: For a single tax year, contributions can be made to a Roth IRA over a 15 ½ month period?
18:29 – Invest for Success
20:16 – Fully Fund Account
21:39 – Ask the Experts: I have limited funds to invest. If I fund my Roth IRA first, can I use it as an emergency fund?
22:29 – Ask the Experts: If I inherit an IRA, can I take out the money over time to avoid paying the taxes?
23:11 – Pure Takeaway
23:30 – Download the Ultimate IRA Guide

Pure Financial Advisors, LLC is a fee-only Registered Investment Advisor providing comprehensive retirement planning services and tax-optimized investment management to thousands of people across the nation.

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IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CFP® – The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
AIF® – Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period….(read more)

LEARN MORE ABOUT: IRA Accounts

CONVERTING IRA TO GOLD: Gold IRA Account

CONVERTING IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

In the latest episode of Your Money, Your Wealth TV, the hosts dive into the topic of rebooting your IRA. As we all know, an Individual retirement account (IRA) is a powerful tool for saving for retirement. However, there are times when you may need to reboot or reevaluate your IRA to ensure that it is working for you in the best way possible.

One of the first things to consider when rebooting your IRA is to take a look at your current financial situation. Have there been any major life changes, such as a career change, marriage, divorce, or the birth of a child? These events can impact your financial goals and how you approach your retirement savings. It’s important to adjust your IRA to reflect these changes and set new goals for your retirement savings.

Another important aspect of rebooting your IRA is to review your investment strategy. Are you taking on too much risk, or not enough? Are you properly diversified in your investments? It’s a good idea to periodically review your investment portfolio and make adjustments as needed to ensure that you are on track to meet your retirement goals.

In the episode, the hosts also discuss the importance of understanding the rules and regulations surrounding IRAs. For example, there are contribution limits that you must adhere to each year, as well as rules regarding withdrawals and required minimum distributions (RMDs) once you reach a certain age. It’s crucial to stay informed about these rules so that you can maximize the benefits of your IRA.

Additionally, the hosts touch on the topic of taxes and how they can impact your IRA. Depending on the type of IRA you have (Traditional or Roth), you may receive different tax benefits. It’s important to understand how these tax benefits work and how they can affect your overall retirement savings strategy.

Overall, rebooting your IRA is a crucial step in ensuring that you are on track to meet your retirement goals. By taking the time to review your financial situation, investment strategy, and understanding the rules and regulations surrounding IRAs, you can set yourself up for a successful retirement. So, tune into Your Money, Your Wealth TV S8 | E15 for more valuable insights on how to reboot your IRA and make the most of your retirement savings.