Carry Learning Center

rmd table
Retirement +2 401k IRA
January 16, 2024
IRA And 401k RMD Table For 2023 & 2024

To calculate your 2023 and 2024 required minimum distributions for your IRA or 401k, use the RMD table below and follow the steps. How to calculate your RMD Example Let’s say that in 2023, you turned 75 years old. And on December 31, 2022, your 401k account balance was $200,000. Based on the RMD chart […]

IRA +1 Roth IRA
January 12, 2024
Best Self-Directed IRAs of 2024

While regular IRAs only let you invest in traditional assets like stocks, bonds, mutual funds, and ETFs, self-Directed IRAs (SDIRAs) allow you to hold alternative investments in your Roth or traditional IRA, such as real estate, private equity, cryptocurrencies, and precious metals.  Self-directed IRAs are special types of IRAs. While they follow the same rules, […]

roth vs traditional ira
IRA +1 Roth IRA
January 04, 2024
Roth IRA Vs Traditional IRA: Key Differences & Similarities

OVERVIEW An individual retirement account (IRA) can help self-employed individuals save for their retirement. While you’re allowed to have an IRA in addition to a company 401k, it’s especially popular for people who don’t have access to an employer-sponsored retirement plan. There are many types of IRAs, but the most common ones are the traditional IRA and Roth […]

ira contribution limits
December 21, 2023
IRA Contribution Limits For 2023 & 2024

The contribution limits for a traditional IRA and Roth IRA are $6,500 for 2023 and $7,000 for 2024. If you’re over the age of 50, you also get an additional $1,000 in catch-up contributions, bringing your total limits to $7,500 for 2023 and $8,000 for 2024. What is the contribution limit for an IRA? The […]

checkbook ira
IRA +1 Roth IRA
November 22, 2023
Self-Directed IRA LLC: The Checkbook IRA Explained

A self-directed IRA gives you more investment options and lets you invest in alternative assets like real estate, crypto, and private equity. The downside is that every investment has to go through a custodian. You don’t have checkbook control. If you find something you want to invest in, you have to instruct your custodian to send the […]

IRA +1 Roth IRA
November 21, 2023
What Is A Self-Directed IRA (SDIRA)?

In 1999, Peter Thiel bought 1.7 million “founder’s shares” of PayPal for $1,700 with his Roth IRA. Within three years, PayPal went public and was acquired by eBay. His initial $1,700 investment turned into $28.5 million. Peter then used that money to make further investments from within his Roth IRA. He invested $500,000 into Facebook, […]

ira rmd
October 24, 2023
IRA Required Minimum Distributions (RMD)

Most individual retirement accounts (IRA) require that you start taking distributions from your account once you reach the age of 73. If you don’t, you’re hit with steep penalties each year you fail to take your RMD. The Roth IRA is the only exception. You don’t have to take any distributions from your account as long […]

Solo 401k +1 IRA
October 11, 2023
Solo 401k vs IRA (Traditional & Roth): Which Is Better For Business Owners?

If you’re a business owner and are eligible for a solo 401k, you might be wondering how it fares against other more popular retirement plans like the traditional and Roth IRAs. This is not a fair comparison since a solo 401k is the far superior account with higher contribution limits, investment options, and doesn’t have […]

401k +2 IRA Solo 401k
August 04, 2023
Can I Contribute to an IRA if I Have a 401k or Solo 401k Plan?

You’re allowed to contribute to both an employer-sponsored retirement (like a 401k or solo 401k plan) and an IRA (both Roth and traditional) in the same tax year. However, there are some instances where your IRA contributions can get restricted or lose the ability to receive a tax deduction. Are you eligible for a solo […]