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Financial retirement planning involves long term investment goals and the dedication and determination to reach them. Diversify your assets and your investments to avoid losing everything should one investment vehicle falter or fail. Pursue different types of income and watch your nest egg grow.
The self directed IRA rules were created to give you the options that you need to make the dream of retiring at age 60 with a good income into YOUR reality.
A big advantage to a Roth IRA account is that you're not required to take annual distributions if you want to keep your account growing and don't need the income yet.
So, you converted a traditional IRA to a Roth IRA last year, paid tax on the converted amount, and your Roth tanked. Help may be available if you hurry. If you meet the time deadlines, you can "unconvert or recharacterize all or part of the Roth IRA conversion you made during the last calendar year.
Retirement plans have an increasingly important role to play in terms of providing an income source in our later years. You have probably already heard of the concept of the "three-legged stool" of retirement, which symbolizes how Social Security, personal savings, and company retirement plans form the triad upon which we can derive funds to pay for our expenses later in life.