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What’s The Difference Between Investing in One Mutual Fund or One Stock?
What’s The Difference Between Investing in One Mutual Fund or One Stock?

When you invest in one stock, you are invested in one company.  When you invest in one mutual fund, you could be invested in 100s to 1000s of companies, therefore spreading your risk as compared with...

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InvestingErica HartwickMarch 16, 2018
What’s The Benefit of Investing in Mutual Funds Over Individual Stocks & Bonds?
What’s The Benefit of Investing in Mutual Funds Over Individual Stocks & Bonds?

Mutual funds allow you to own anywhere from several stocks and bonds to thousands of stocks and bonds. Owning one funds instead of (for example) 500 in the S&P 500, results in significantly lower...

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InvestingErica HartwickMarch 16, 2018
Why Are Bonds Considered Safer Than Stocks to Invest in?
Why Are Bonds Considered Safer Than Stocks to Invest in?

Most people relate to bonds like they’re a very secure investment and it’s true that the price of a bond doesn’t move as much (less volatile) as stocks.  But when you look at bonds from a long-term...

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InvestingErica HartwickMarch 16, 2018
Can I Deduct The Losses in my IRA or 401(k) From my Taxes?
Can I Deduct The Losses in my IRA or 401(k) From my Taxes?

No, you can’t.  You can only deduct losses from a non-retirement account like a Joint, Trust, or Individual account from your taxes...

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TaxesErica HartwickMarch 16, 2018
How Can Investing Affect my Taxes?
How Can Investing Affect my Taxes?

When you put money into your 401(k), those dollars are not included in your taxable income – therefore going in pre-tax.  When you put money into your IRA, assuming you are under the income thresholds...

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TaxesErica HartwickMarch 16, 2018
Am I Limited in The Amount I Can Rollover Into my IRA Each Year?
Am I Limited in The Amount I Can Rollover Into my IRA Each Year?

No, but there are limits on the amount you can contribute.  Rollover means to move money from a 401(k) or 403(b) or 457 to an IRA...

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Inside IgniteErica HartwickMarch 14, 2018
Are There Age Limits to Contributing to my Retirement Accounts?
Are There Age Limits to Contributing to my Retirement Accounts?

You can’t contribute to your IRA in the year you turn 70 ½ and beyond, unless you’re still working. There are no age limits to contributing to your Roth IRA, so long as you have earned income...

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Inside IgniteErica HartwickMarch 14, 2018
Can I Contribute to an IRA if I Have a Retirement Plan at Work?
Can I Contribute to an IRA if I Have a Retirement Plan at Work?

In practice, you probably shouldn’t. IRA contributions made when you have a retirement plan at work are probably going to be considered “non-deductible”. By doing this, you open yourself up to extreme...

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Inside IgniteErica HartwickMarch 14, 2018
Can I Contribute to Both an IRA & a Roth IRA in The Same Year?
Can I Contribute to Both an IRA & a Roth IRA in The Same Year?

Yes, as long as you are below the income requirements.  The maximum COMBINED amount you can contribute is a total of $5,500 ($6,500 if you’re over 50).  Sorry, you can’t contribute $5,500 into each...

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Inside IgniteErica HartwickMarch 14, 2018
Can my Spouse & I Put All of our Retirement Savings Into One Account?
Can my Spouse & I Put All of our Retirement Savings Into One Account?

Since your IRA and 401(k) are under your Social Security Number, you cannot combine them with your spouse’s IRA or 401(k).  You can consolidate your own accounts, but you can’t combine them with...

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Inside IgniteErica HartwickMarch 14, 2018
How Often Should I Check my Portfolio?
How Often Should I Check my Portfolio?

You can review your investments by going to our home page and clicking login at the top right. My Advisor Center will show you your accounts at Schwab. eMoney will show you all of your accounts...

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Inside IgniteErica HartwickMarch 14, 2018
Is There an Income Limit to Convert an IRA to a Roth IRA?
Is There an Income Limit to Convert an IRA to a Roth IRA?

No, there isn’t.

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Inside IgniteErica HartwickMarch 14, 2018
Should I Convert my IRA to a Roth IRA?
Should I Convert my IRA to a Roth IRA?

You may consider converting some or all of your IRA if you have more than ½ of your retirement accounts in your IRA and can/want to pay the taxes on the amount you convert.  Remember that Roth...

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Inside IgniteErica HartwickMarch 14, 2018
What Does it Mean to Max Out Your 401(k)?
What Does it Mean to Max Out Your 401(k)?

To max out your 401(k) is to put in the maximum amount of money each year that the Federal government allows.  This amount for 2018 is $18,500 and if you are 50 or over, you can contribute an...

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Inside IgniteErica HartwickMarch 14, 2018
What Kinds of Accounts can I Open & Invest in?
What Kinds of Accounts can I Open & Invest in?

The following account types are available through Ignite Investing: Traditional IRAs, Roth IRAs, Rollover IRAs, Joint and Individual accounts. Below are lists of account types you might find available to you...

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Inside IgniteErica HartwickMarch 14, 2018
What Should I do With my 401(k) When I Leave or am Terminated From my Job/Employer?
What Should I do With my 401(k) When I Leave or am Terminated From my Job/Employer?

You should roll your account balance over to an IRA when you leave an employer so that you’re aggregating your retirement accounts in one IRA account that isn’t attached to an employer. You want...

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Inside IgniteErica HartwickMarch 14, 2018
What Type of Retirement Account(s) Should I Have?
What Type of Retirement Account(s) Should I Have?

The long-term goal for most people is to have a Roth IRA/Roth 401(k) and a Traditional IRA/401(k). So that when the time comes to start withdrawing money from your retirement accounts for income, you...

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Inside IgniteErica HartwickMarch 14, 2018
Where do I go Online to Look at my Accounts?
Where do I go Online to Look at my Accounts?

You have THREE places you can access your accounts online – each delivers account information a bit different than the others. To access your new portals, you will need to have the following information...

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Inside IgniteErica HartwickMarch 14, 2018
Where Should I Start Saving? My 401(k) or an IRA or a Roth IRA?
Where Should I Start Saving? My 401(k) or an IRA or a Roth IRA?

You’re able to save more in your 401(k) ($18,500 in 2018 plus an additional $6,000 if you are over 50) each year than you can in your IRA or Roth IRA ($5,500 plus an additional $1,000 if you are over 50)...

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Inside IgniteErica HartwickMarch 14, 2018
Why Should I Have a Trust?
Why Should I Have a Trust?

If you have assets that you would like your heirs to avoid Probate, you might consider a trust.  If you will be leaving assets to minor children - or even to adult children who may not be financially mature...

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RetirementErica HartwickMarch 14, 2018
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