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Individual Retirement Account

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NEWS
September 28, 1993 | WILLIAM R. LONG, TIMES STAFF WRITER
Those big bites out of Manuel Valladares' paychecks, unlike U.S. Social Security deductions, go straight to an individual retirement account. The dividends and interest it earns are for him. And this nation's privately administered pension system has yielded handsome earnings for millions of Chileans since it was started in 1981--an average of 13% a year. Valladares, a 64-year-old messenger for an architectural firm, has no complaints. "It's very good," he said.
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BUSINESS
April 22, 2007 | Jonathan Peterson, Times Staff Writer
LIKE nearly half the American workforce, Pierre Randolph has no pension or 401(k) plan to look forward to in old age. Nonetheless, the 44-year-old maintenance worker is cultivating a retirement nest egg with the aid of his employer, outside the traditional pension system and the rules that govern it. "These days, you don't have a retirement plan unless you make a retirement plan," said Randolph, whose employer deposits his annual raise into an individual retirement account.
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BUSINESS
October 15, 1999 | LIZ PULLIAM
"Social Security, Medicare and Pensions" by Joseph L. Matthews with Dorothy Matthews Berman ($21.95, Nolo.com). Chances are pretty good you know how a 401(k) works, and you may have been an active individual retirement account investor for years. But what do you know about your pension, or how Social Security and Medicare might contribute to your retirement fortunes?
BUSINESS
August 25, 2002 | LIZ PULLIAM WESTON, SPECIAL TO THE TIMES
Question: I am a tax preparer and have a 40-year-old client who, four years ago, needed money because of a layoff and burnout from the corporate world. She began taking substantially equal distributions from her individual retirement account. By following IRS guidelines that base the withdrawals on her life expectancy, she has been able to tap her IRA without paying penalties, although she still owes income taxes on the withdrawal.
BUSINESS
October 23, 1992 | From Times Staff and Wire Reports
Fidelity to Waive Some Fees: In a move that could spark a price war in the mutual fund industry, Fidelity Investments said it will waive sales charges on most of its stock funds when they are purchased for a Fidelity retirement account, such as an individual retirement account. Beginning Nov. 1, the mutual fund giant will waive sales charges on all existing stock funds except Fidelity Magellan and Fidelity Select portfolios when investors are purchasing shares for retirement accounts.
BUSINESS
February 15, 1996 | Times Staff and Wire Reports
Intuit Again Warns of Errors in Tax Program: For the second year in a row, Intuit Inc. is warning customers that errors in its popular tax-preparation software could lead to miscalculations. The Menlo Park, Calif., company said that fewer than 1% of users of TurboTax and MacInTax should be affected by the bugs, which have led to wrong entries in some cases involving depreciation of cars and real estate, self-employed taxpayers and individual retirement account contributions.
BUSINESS
March 18, 1990
In discussions about using a capital gains tax break to encourage investment in our nation's economy, we are missing an evaluation of where the incentives would actually fall. A capital gains tax break does not reward the person who invests. Instead, it rewards the person who liquidates an investment. However, the reward would also benefit the person who uses those funds to buy a car, vacation or other consumer item. Continued investing is not encouraged. Worse, a capital gains tax break only benefits the person who has already reaped the reward of a profit on an investment.
NEWS
November 30, 2001 | Liz Pulliam Weston
Owning too much company stock in a retirement plan can be hazardous to a worker's financial health, as employees of Enron and other distressed firms have discovered in recent months. Financial planners recommend the following steps to help reduce risk: * Try to have no more than 10% to 20% of your total investment portfolio in company stock. This includes 401(k)s, profit-sharing plans and employee stock-purchase programs.
BUSINESS
April 23, 1995 | CARLA LAZZARESCHI
Q: My husband and I own a home valued at about $800,000 in which we plan to live as long as we can. We have two daughters and enough of an estate so we can leave the home to one and an inheritance of equal value to the other. What can we do now to start turning over the house to the one daughter? Should we make her a gift of a share worth $20,000 each year?-- M.M.H . A.
BUSINESS
June 9, 1991 | KATHY M. KRISTOF
Financial advisers have been touting the idea of putting money aside in tax-deferred retirement accounts for years. Individuals are likely to need more than just company-sponsored pensions and Social Security to make it through their "golden years" in comfort, advisers maintain. And tax-favored savings can earn gratifying returns.
NEWS
November 30, 2001 | Liz Pulliam Weston
Owning too much company stock in a retirement plan can be hazardous to a worker's financial health, as employees of Enron and other distressed firms have discovered in recent months. Financial planners recommend the following steps to help reduce risk: * Try to have no more than 10% to 20% of your total investment portfolio in company stock. This includes 401(k)s, profit-sharing plans and employee stock-purchase programs.
NEWS
June 13, 2001 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
How do you keep track of the investments of 150 million people, millions of whom contribute as little as $40 a year? How do you persuade brokerage houses, which make no profit on such small accounts, to offer their products to these fledgling investors?
BUSINESS
April 1, 2001 | LIZ PULLIAM WESTON
Q: Last week, my husband withdrew $20,000 from his 401(k) plan to help pay off a debt. As things turned out, the withdrawal was unnecessary. The silly man did not think to check with me, and I had another resource to cope with the need. He forfeited about $4,500 in penalties and prepaid taxes on the amount he withdrew. Can he redeposit the withdrawn amount and not be subject to the tax? Is there a time frame within which such redeposits may be made without penalty? A: The silly man, indeed.
BUSINESS
October 15, 1999 | LIZ PULLIAM
"Social Security, Medicare and Pensions" by Joseph L. Matthews with Dorothy Matthews Berman ($21.95, Nolo.com). Chances are pretty good you know how a 401(k) works, and you may have been an active individual retirement account investor for years. But what do you know about your pension, or how Social Security and Medicare might contribute to your retirement fortunes?
BUSINESS
July 25, 1999 | LIZ PULLIAM
Q. My old college roommate is starting up his own bank and is looking for investors to come up with the $3 million in seed money. I don't have a lot of available cash, but I was planning to shift $25,000 of my 401(k) money into stock in his bank, because my 401(k) has a self-direct option that allows us to invest in individual stocks. However, the lady I talked to at the 401(k) administrator told me that I am not allowed to buy private stock with my 401(k) money.
BUSINESS
November 15, 1998 | KATHY M. KRISTOF
Hundreds of sites on the Web aim to educate consumers about Roth IRAs, and dozens have calculators designed to help you figure out whether you are better off converting to a Roth or leaving your traditional IRA alone. All of the calculators have some shortcomings, however. For one thing, they don't take into account whether you'll lose income-contingent deductions or credits as the result of boosting your taxable income through a conversion.
BUSINESS
May 8, 1994 | CARLA LAZZARESCHI
Q. What are the essential differences between a condominium and a cooperative? Are there any inherent advantages to one over the other? R.S.B . A. The major difference between a condo and a co-op comes down to ownership. When you buy a condominium, you actually purchase the unit you will inhabit. At the same time, you either get the right to use the common areas of the complex or a fraction, or share, of that property equal to your proportionate interest in the project.
BUSINESS
August 25, 2002 | LIZ PULLIAM WESTON, SPECIAL TO THE TIMES
Question: I am a tax preparer and have a 40-year-old client who, four years ago, needed money because of a layoff and burnout from the corporate world. She began taking substantially equal distributions from her individual retirement account. By following IRS guidelines that base the withdrawals on her life expectancy, she has been able to tap her IRA without paying penalties, although she still owes income taxes on the withdrawal.
BUSINESS
November 15, 1998 | LIZ PULLIAM, TIMES STAFF WRITER
Tom Cooney of Arroyo Grande wants to convert his traditional IRA to one of the new Roth IRAs. He thinks. Cooney, 65, has received conflicting information from his brokerage, his financial planner and his daily newspaper about whether such a conversion makes sense. "It's confusing," said Cooney. So he has done nothing.
BUSINESS
November 15, 1998 | KATHY M. KRISTOF, SPECIAL TO THE TIMES
Still trying to decide whether to convert your traditional individual retirement account to a Roth? You have plenty of company. Financial experts say millions of Americans have been considering this vexing question for months. But if you hope to take advantage of rules allowing you to spread out the tax hit that conversions inevitably create, the time for action is near.
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