Author: United Funding Corp

A Traditional IRA or 401(k) is a reliable retirement tool, providing tax benefits in the form of deferred tax payments. However, if you are looking to maximize your retirement strategy and gain additional tax advantages, a Roth IRA might be a better fit. Particularly if you anticipate being in a higher tax bracket in the … Continued

For many high-earning individuals, the benefits of a Roth IRA—such as tax-free withdrawals in retirement, no required minimum distributions (RMDs), and more flexible access to account funds—are hard to ignore. However, Roth IRAs come with income-based contribution limits that can prevent certain high earners from directly contributing to the account. This is where the backdoor … Continued

When transitioning retirement funds between different accounts, many individuals opt for a rollover, which allows them to move funds from one qualified retirement account to another without incurring immediate tax consequences. This process is common when people leave their employers and move their 401(k) funds into an Individual Retirement Account (IRA), or when transferring to … Continued

According to the 2024 Insurance Barometer Study by LIMRA and Life Happens, financial preparedness for retirement is the top concern for adults aged 18 to 75. Despite the fact that nearly 60% of Americans have a tax-advantaged retirement account like an IRA or 401(k), an AARP Financial Security Trends Survey reveals that only about half … Continued

A Roth IRA is one of the most attractive retirement savings options available, thanks to its tax-free growth, tax-free qualified withdrawals, and added flexibility compared to traditional IRAs. However, despite its many advantages, Roth IRAs come with specific rules—one of the most important being the Roth IRA 5-year rule. Understanding how this rule applies to … Continued

When planning for retirement, most people consider traditional investments like stocks, bonds, and mutual funds. However, for those looking to diversify and potentially increase their returns, alternative investments offer a compelling opportunity. These non-traditional assets can be held in a self-directed IRA (SDIRA), giving investors greater flexibility to build a customized retirement portfolio. This guide … Continued

A Roth IRA is one of the most flexible retirement savings accounts available, offering tax advantages that can help you build wealth over time. While these accounts are primarily designed for retirement, they can also be used for qualified education expenses under certain conditions. Unlike traditional IRAs or 401(k)s, Roth IRAs allow you to withdraw … Continued

Recent wildfires have devastated communities across Los Angeles and Ventura Counties, leaving thousands of individuals and businesses struggling to recover. In response, both the federal and state governments have introduced critical tax and financial relief measures to help affected residents rebuild and regain stability. At Horizon Trust, we understand the challenges wildfire victims face, and … Continued

A 401(k) is a powerful tool for building financial security in your retirement years. However, the level of wealth you accumulate depends largely on the assets within your portfolio. Traditional 401(k) plans typically include stocks, bonds, and mutual funds. While these are foundational investment vehicles, they may not always provide the accelerated growth that some … Continued

For self-employed individuals, small business owners, freelancers, and independent contractors, securing a comfortable retirement is a key financial goal. Traditional retirement savings accounts, such as IRAs and standard 401(k)s, offer limited contribution caps that may not align with the aggressive savings strategies of high-income earners. Fortunately, a Roth Solo 401(k) provides an alternative for those … Continued

Retirement accounts like 401(k)s, Traditional IRAs, Roth IRAs, and self-directed IRAs are designed to provide financial security in your later years. However, life is unpredictable, and there may come a time when you need access to your funds earlier than expected. While early withdrawals typically trigger taxes and penalties, there are exceptions that allow you … Continued