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Archive for August, 2010

August 31st, 2010

Investor Opinion Polls

(Money Manager) - Tell us what you think! Take our investor opinion poll.

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August 30th, 2010

The Independent 401(k) Plan

(Money Manager) - Independent 401(k) plans, which are sometimes referred to as a solo 401(k), are designed for one individual who is operating a sole proprietorship. These plans can also be used when a person is operating a small business with their immediate family member or their spouse. They are allowable under these circumstances in the case of a partnership, limited liability partnership (LLPs), corporations, S-corporations, and limited liability companies (LLCs), in addition to sole proprietorships. These plans can work if a person works as a contractor, consultant, independent real estate broker, or an entrepreneur, just to name a few possibilities.

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August 23rd, 2010

The Registered Retirement Savings Plan – RRSP

(Money Manager) - A Registered Retirement Savings Plan (RRSP) is used throughout a person's career to allow money to be saved for retirement. These plans are designed to be tax-deferred and are registered by the Canada Revenue Agency. These plans are set up through a financial institution, such as a bank or a credit union. Contributions to a Registered Retirement Savings plan are tax deductible, up to plan limit amounts.

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August 16th, 2010

What are Extended IRA Plans?

(Money Manager) - Extended IRA Plans, which are sometimes referred to as multi-generational IRA plans, are designed for use by individuals who do not want to spend all of the money accumulated in their IRA plan, or those simply do not need to spend the money to cover their own needs. These plans are designed to allow a person to "pass down" an IRA account during their life expectancy to a designated beneficiary, known as the first generation beneficiary.

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August 9th, 2010

What are Spousal IRA Plans?

(Money Manager) - The term "spousal IRA" refers to an IRA that is set up and funded by an individual specifically for his or her spouse. These plans are generally implemented when a person's spouse has little or no income as a way to plan and save for that person's retirement.

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August 2nd, 2010

What are Top Hat Plans?

(Money Manager) - The term "top hat plan" refers to special non-qualified retirement plans that are sometimes set up by companies for selected groups of individuals, who are usually key executives within the company. These plans are reserved for just this select group of individuals, who are generally in management or have highly compensated positions within the company. These plans are not considered by the Internal Revenue Service (IRS) to have tax-qualified status.

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