Are You Breaking IRA Rules Without Realizing It? | Ep. 28

Описание: We’re addressing one of the most frequent mistakes we see among high‑income earners and a lesser‑known Roth IRA and Trad. IRA rule that even seasoned advisors are overlooking. The different income limits that can quietly trigger a 6% penalty every year if left uncorrected, catching families off guard far too often.

Topics Covered 💭
💭 The Roth IRA income limits that trips people up
💭 What “phasing out” actually means
💭 What happens if you contribute to a Roth IRA when you are over the limit?
💭 Ways to still fund Roth IRAs and how they work
💭 The pro rata rule explained
💭 When a 401k still works even if Roth IRAs don't as well
💭 Using an HSA as part of retirement strategy
💭 Simple order of operations for high earners
💭 How to clean up IRA mistakes
💭 Career lessons Michael and Jacqueline received that stick with them

𝐖𝐡𝐲 𝐰𝐞'𝐫𝐞 𝐡𝐞𝐫𝐞?
We’re here to make retirement planning feel less intimidating by helping people think through their strategies and plans through clear relatable financial topics!

💬 Questions or Want to Connect?
🌐 𝐖𝐞𝐛𝐬𝐢𝐭𝐞: www.custerfinancialadvisors.com
📧 𝐄𝐦𝐚𝐢𝐥: [email protected]

Chapters
00:00 Life Example of Trying to Use a Roth When Maybe Not Allowed To
02:24 Why Does Income Matter?
03:26 Income Restrictions for IRAs & Roth IRAs
04:46 6% Yearly Penalty Until Fixed
05:51 A Way Around the Income Rules?
07:29 What's the Pro Rata Rule?
09:33 How to Fix Not Allowed Contributions Under 59 1/2?
11:08 Roth IRA Contribution Limitations
12:05 Use Work Plans or IRAs?
13:02 Trad. IRA Income Limit Lower Than Roth? Covered by Work Plan?
14:07 Health Savings Account for Retirement
14:56 Can You Invest a Health Savings Account?
15:23 People and Pros Are Missing the Income Rules
16:39 Best Career Advice We've Received?

Disclosures:
Harborfront Financial Group is a Registered Investment Advisor registered with the Securities and Exchange Commission (SEC). Registration as an investment adviser does not imply a certain level of skill or training, and the content of this communication has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority.

The information contained in this material is intended to provide general information about Harborfront Financial Group and its services. It is not intended to offer investment advice. Investment advice will only be given after a client engages our services by executing the appropriate investment services agreement. Information regarding investment products and services are provided solely to read about our investment philosophy and our strategies. You should not rely on any information provided on our web site in making investment decisions.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Harborfront Financial Group, a Registered Investment Advisor. Harborfront Financial Group and Custer Financial Advisors are separate entities from LPL Financial.

This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing. All investing involves risk including loss of principal. No strategy assures success or protects against loss.