Christopher A. Hopkins Christopher A. Hopkins Photo by Contributed Photo /Times Free Press. Investing involves more than just picking the next Amazon; it all begins with establishing the correct type of account to suit your particular situation. The choices are numerous and choosing wisely is important, so here is a look at the options. A brokerage account is in many ways similar to a traditional bank account but provides for holding virtually any financial security including stocks, bonds, mutual funds and ETFs. Investors can also purchase derivative securities like options and futures contracts in a brokerage account. The first consideration is how to title the account, a decision which establishes certain conditions, limitations and rights. It is typical for married couples to establish joint accounts for their non-retirement assets. Which flavor of joint account depends upon specific objectives and estate planning considerations. Joint Tenants: The most common title for … [Read more...] about Personal Finance: Navigating the maze of brokerage accounts
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Eric Rosenberg, provided by Published 8:45 am EDT, Wednesday, April 17, 2019 Samantha Lee/Business Insider Oli Scarff/Getty Images A 401(k) rollover might sound complicated, but it just means moving retirement savings from one tax-advantaged retirement account to another. People often do this after leaving a job, to consolidate their retirement savings for easier record-keeping and sometimes, for more advantageous investments. Many 401(k) plans are notorious for high fees and limited investment choices, and rollover options typically include a 401(k) with a new employer or a Rollover IRA of your choice. Visit BusinessInsider.com for more stories. A 401(k) is a tax-advantaged, employer-sponsored retirement account that has special rules. Unlike a regular checking or savings account, where you can add and withdraw funds at any time with few limits and no major tax implications, you can't just withdraw from a 401(k) at any time. Withdrawals from a retirement account … [Read more...] about A simple strategy can make retirement savings less complicated, no matter how many jobs you’ve held and accounts you’ve opened
Q. I have a 401(k) plan from years of working and I don't think I will need any money from it because I'm living off income from my taxable investments. Would my kids be better off inheriting my 401(k) or my brokerage accounts? -- Parent A. Kudos to you for saving so well. Different kinds of assets have different implications when you're talking inheritances. Generally, it is better to inherit money from a taxable account rather than from an IRA because of the step-up in basis at death, said Jerry Lynch, a certified financial planner with JFL Total Wealth Management in Boonton. Lynch offered this example: Imagine you bought AT&T stock at $10 per share in a brokerage account. When you die, it's worth $50 per share. If your heirs sell it at $50 per share, they owe no income tax. If they sell it in future years, any gain above $50 per share is taxed at the capital gains rate, which Lynch said is about half of ordinary income tax rates. Compare that to a … [Read more...] about Should I leave a 401(k) or brokerage account to my children?
Susan Tompor Detroit Free Press Published 11:53 AM EST Dec 10, 2018 Hundreds of thousands of students across the country paid stiff banking fees after colleges cut marketing deals with big banks, based on a study obtained by the Free Press through a federal open records request. Collectively, students paid $27.6 million in account fees over just one year across campuses reviewed in a newly disclosed study conducted by the Consumer Financial Protection Bureau. The figure is likely higher since all schools were not reviewed. Colleges are looking for extra money, while banks want young customers. But the marketing marriage might be harmful to the pocketbooks of some cash-strapped students, depending on the type of agreement reached between the college and the bank. College students dished out as much as a weighted average fee of nearly $47 per active account to Wells Fargo in a 12-month period. Others, though, paid no charges on average to Fifth … [Read more...] about Some banks, colleges cut deals to share student account fees
Home HomeNewsEducationHealthTechManufacturing & LogisticsLife SciencesAg INnovationINPower INnovatorsBigWigs & New GigsVideoPurchase Gerry DickGerry's ViewSpeaking Engagement RequestSubscribeNewslettersPODCASTAppRSSOn-AirTV & Radio Listings ContactAbout IIBMeet the TeamContact UsIntern with IIBFlagship Stations Margin Loans: A Savvy Way to Use Your Brokerage Account? Posted: Monday, October 1, 2018 9:33 AM EDTUpdated: Monday, October 1, 2018 9:34 AM EDTBy Bill Wendling Sr., Portfolio Manager, Bedel Financial Consulting [email protected] Many investors are not even aware they can borrow against a portfolio, much less the implications of doing so. This tool can be a saving grace or a wrecking ball when it comes to your assets. So, could it help you? It all depends on the timing and the conditions.How Does a Margin Loan Work?When Might Margin Loans Pay Off? Bridge loan for home construction until a traditional mortgage can be put in … [Read more...] about Margin Loans: A Savvy Way to Use Your Brokerage Account?