A strong savings program is essential for any sound financial strategy. We take Benjamin Franklin’s saying to heart, “A penny saved is a penny earned,” and we save our spare cash in savings accounts and certificates of deposit. Investors who’ve accumulated an adequate cash reserve are to be commended. But as strange as it sounds,

An individual retirement arrangement (IRA) is a personal retirement savings plan that offers specific tax benefits. In fact, IRAs are one of the most powerful retirement savings tools available to you. Even if you’re contributing to a 401(k) or other plan at work, you might also consider investing in an IRA. What types of IRAs

What are some strategies to defer taxes? It often makes sense to defer taxable income from one year to a later year in order to postpone payment of tax. This allows you the use of more money for a longer period of time. Postponing receipt of taxable income may also be useful, because when you

What is meant by annuities within IRAs? An annuity is one of the investment options available for your IRA money, as are mutual funds and certificates of deposit. Most financial planning professionals, however, recommend against holding an annuity within an IRA. Why invest your IRA in an annuity? There are two primary reasons why you