Top and Current
Source: (remove) : News4Jax
RSS • JSON • XML • CSV
Top and Current
Source: (remove) : News4Jax
RSS • JSON • XML • CSV
Tue, March 25, 2025
[ Tue, Mar 25th ] - News4Jax
10 IRA mistakes to avoid
Fri, March 21, 2025
[ Fri, Mar 21st ] - News4Jax
President Trump and Defense Secretary Pete Hegseth to deliver remarks from Oval Office
Sat, March 15, 2025
[ Sat, Mar 15th ] - News4Jax
Greek government debt upgraded to investment grade, closing the door on a painful era
Tue, March 11, 2025
[ Tue, Mar 11th ] - News4Jax
Politics & Power: Florida's governor takes a page .. m Musk's playbook & serves up DOGE DeSantis-style
[ Tue, Mar 11th ] - News4Jax
Republicans are marching ahead with a government funding bill despite Democratic opposition
Thu, March 6, 2025
[ Thu, Mar 06th ] - News4Jax
Local lawmakers push for statewide anti-DEI bills .. that would prohibit local government DEI policies
[ Thu, Mar 06th ] - News4Jax
Veterans fired from federal jobs say they feel betrayed, including some who voted for Trump
Mon, March 3, 2025
[ Mon, Mar 03rd ] - News4Jax
Senior economist explains local impact of DOGE's federal worker job cuts
[ Mon, Mar 03rd ] - News4Jax
What to watch when Trump gives his big speech to Congress
Sat, February 22, 2025
[ Sat, Feb 22nd ] - News4Jax
Musk's cost-cutting team is laying off workers at .. the auto safety agency overseeing his car company
[ Sat, Feb 22nd ] - News4Jax
New FBI director Kash Patel plans to relocate up to 1,500 employees
Thu, February 20, 2025
[ Thu, Feb 20th ] - News4Jax
Musk waves a chainsaw and charms conservatives talking up Trump's cost-cutting efforts
[ Thu, Feb 20th ] - News4Jax
Dr. Mehmet Oz holds millions from companies that he'd wield power over if confirmed, report shows
[ Thu, Feb 20th ] - News4Jax
David Boren, a former Oklahoma governor and veter .. n US senator and university president, dies at 83
Tue, February 11, 2025
[ Tue, Feb 11th ] - News4Jax
Champions League global rights deal set to be struck by U.S. agency Relevent with UEFA, clubs
Mon, February 10, 2025
[ Mon, Feb 10th ] - News4Jax
Jon Batiste's reimagined Super Bowl anthem highlighted wife's painting and set stage for new music
Sun, February 2, 2025
[ Sun, Feb 02nd ] - News4Jax
USAID security leaders on leave after trying to k .. p Musk's DOGE from classified info, officials say
Wed, January 22, 2025
[ Wed, Jan 22nd ] - News4Jax
Everything Trump did in the first executive orders of his presidency
Tue, January 21, 2025
[ Tue, Jan 21st ] - News4Jax
'Wicked' star Cynthia Erivo named Harvard's Hasty Pudding Woman of the Year
Sun, December 29, 2024
[ Sun, Dec 29th 2024 ] - News4Jax
Doctor provides steps for improving heart health in 2025
Fri, December 27, 2024
[ Fri, Dec 27th 2024 ] - News4Jax
10 tips from experts to help you change your relationship with money in 2025
[ Fri, Dec 27th 2024 ] - News4Jax
Taking a look back at 2024's weirdest, wackiest viral moments
Fri, December 13, 2024
[ Fri, Dec 13th 2024 ] - News4Jax
Weight loss and wellness trends: Is their help behind the hype?
Wed, December 11, 2024
[ Wed, Dec 11th 2024 ] - News4Jax
NFL will consider replay assist for facemask penalties and other plays
Mon, December 9, 2024
[ Mon, Dec 09th 2024 ] - News4Jax
US indictment accuses two Syrian officials of torture at notorious prison

10 IRA mistakes to avoid


Published on 2025-03-25 11:21:35 - News4Jax
  Print publication without navigation

  • The only option open to taxpayers at all income levels is a traditional nondeductible IRA, but this subjects investors to two big drawbacks: required minimum distributions (RMDs) and ordinary income tax on withdrawals. Assuming a backdoor Roth IRA will be tax-free

The article from News4Jax outlines ten common mistakes to avoid when managing an Individual Retirement Account (IRA). These include not contributing enough to maximize tax benefits, missing the annual contribution deadline, withdrawing funds prematurely which incurs penalties, not understanding the rules for Required Minimum Distributions (RMDs) leading to tax penalties, over-contributing beyond the IRS limits, neglecting to name or update beneficiaries, investing too conservatively or too aggressively, not consolidating old 401(k)s into an IRA, failing to consider Roth IRA conversions for tax advantages, and not seeking professional financial advice. Each mistake can significantly impact one's retirement savings and financial planning, emphasizing the importance of being well-informed about IRA regulations and strategies.

Read the Full News4JAX Article at:
[ https://www.news4jax.com/business/2025/03/25/10-ira-mistakes-to-avoid/ ]