Connect with us

Published

on

Ongoing Promotion Through April 18th: Get rewarded with a 1% match on every dollar from outside accounts added to an IRAincluding IRA and 401(k) transfers. Dont miss out on extra money for your retirement!

When talking about retirement and helping ensure you are financially secure in your later years, Individual Retirement Arrangements (IRAs) are a great way to prepare for the future. Simply put, IRAs allow you to make tax-deferred investments to provide financial security when you are ready to retire.

Typically retirement investments are available through employers in 401(k) programs or IRAs through banks or brokerage firms. 401(k) accounts feature automatic contributions for retirement funds that are initiated with an employer and the employer sometimes provides a match. A match is an additional contribution made by an employer on top of what the employee puts into the program. IRAs are more personalized and unique. IRAs are initiated by an individual and most IRAs do not offer a match. Two options for IRAs are a traditional IRA and a Roth IRA.

A traditional IRA means that contributions may be tax-deductible. Withdrawals are taxed at your tax rate when you retire. In other words, with traditional IRAs, you may not pay taxes on your earnings or contributions until you have started taking minimum distributions at age 73. The 2023 limit for traditional IRA investment is $6,500, for those under the age of 50". Deductibility of contributions is contingent on a number of factors, such as whether you have access to an employer retirement plan, and income level.

Contributions to a Roth IRA are not tax-deductible but eligible withdrawals, including capital gains, are tax-free. The benefit of a Roth IRA is that since youre contributing after-tax dollars, eligible withdrawals are not taxed in retirement. For 2023, the total contribution also cannot be more than $6,500 for those under the age of 50.

Hypothetically, if you needed to dip into your IRA accounts before retirement there are some things to consider. With Roth IRA accounts, if youre under 59 1/2, you are subject to taxes and penalties on the earnings portion of the withdrawal. There is also a five-year holding period requirement. For traditional IRA contributions, if you withdraw before age 59 1/2, you are subjected to a 10% federal penalty tax plus regular income tax.

One major benefit of an IRA is that you have the freedom to select from thousands of investment options.Robinhood Offers A 1% Match Retirement Plan With No Employer Needed

Robinhood Financial LLC. HOOD has the only IRA with a 1% match that requires no employer. Both traditional and Roth IRAs are available.

With Robinhood, individuals no longer have to be tied to an employer to get a contribution match for a retirement fund. This can be helpful for both self-employed individuals or people who work for employers that do not offer 401(K) programs. Robinhoods IRA is also great for anyone who wants another separate option from their employer and greater control over their investment.Key Features Robinhood matches 1% on every eligible dollar contributed up to the annual contribution limits. Limitations apply, see restrictions below.* Robinhood provides a one-time custom recommended portfolio, if you need help getting started, or you can build your own or even do a bit of both. Custom ETF portfolio recommendations are based on a series of questions that analyze appetite for risk and desired age for retirement.

The platform offers the ability to trade certain options strategies for eligible users without commission or per-contract fees** in your IRA. Depending on the account type, any potential retirement earnings have tax-deferred or tax-free growth potential

The addition of Robinhood Retirement to the platform can be a valuable tool to help build toward retirement. Robinhood aims to empower investors everywhere, no matter their investment level, with retirement account offerings that help build toward a more solid financial future.

Featured Photo by Austin Distel on Unsplash

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

*You must have earned (wage) income in order to contribute to an IRA. The ongoing 1% match is only applicable to annual contributions made to the IRA from an external source, up to the applicable IRS limits. Contributions must come from an external account and must be held in the Robinhood IRA for at least five years to avoid the possibility of a withdrawal fee. See the Match FAQ for more information: https://robinhood.com/us/en/support/articles/ira-match-faq/ **Other fees may apply. View Robinhood Financials fee schedule at rbhnhd.co/fees.

Funds being contributed into or distributed from retirement accounts may entail tax consequences. Contributions are limited and withdrawals before age 59 1/2 may be subject to a penalty tax. Robinhood does not provide tax advice; please consult with a tax adviser if you have questions.

The Robinhood IRA is available to any customer with a Robinhood brokerage account in good standing.

Options trading entails significant risk and is not appropriate for all investors. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Customers should consider their investment objectives and risks carefully before investing in options. Supporting documentation for any claims, if applicable, will be furnished upon request.

All investments involve risk and loss of principal is possible. Robinhood Financial LLC (member SIPC), is a registered broker-dealer.

Continue Reading

Politics

Norman Tebbit: Former Tory minister who served in Margaret Thatcher’s government dies aged 94

Published

on

By

Norman Tebbit: Former Tory minister who served in Margaret Thatcher's government dies aged 94

Norman Tebbit, the former Tory minister who served in Margaret Thatcher’s government, has died at the age of 94.

Lord Tebbit died “peacefully at home” late on Monday night, his son William confirmed.

One of Mrs Thatcher’s most loyal cabinet ministers, he was a leading political voice throughout the turbulent 1980s.

He held the posts of employment secretary, trade secretary, Chancellor of the Duchy of Lancaster and Conservative party chairman before resigning as an MP in 1992 after his wife was left disabled by the Provisional IRA’s bombing of the Grand Hotel in Brighton.

He considered standing for the Conservative leadership after Mrs Thatcher’s resignation in 1990, but was committed to taking care of his wife.

Prime Minister Margaret Thatcher and party chairman Norman Tebbit.
Pic: PA
Image:
Margaret Thatcher and Norman Tebbit in 1987 after her election victory. Pic: PA

Tory leader Kemi Badenoch called him an “icon” in British politics and was “one of the leading exponents of the philosophy we now know as Thatcherism”.

“But to many of us it was the stoicism and courage he showed in the face of terrorism, which inspired us as he rebuilt his political career after suffering terrible injuries in the Brighton bomb, and cared selflessly for his wife Margaret, who was gravely disabled in the bombing,” she wrote on X.

“He never buckled under pressure and he never compromised. Our nation has lost one of its very best today and I speak for all the Conservative family and beyond in recognising Lord Tebbit’s enormous intellect and profound sense of duty to his country.

“May he rest in peace.”

Lord Tebbit and his wife Margaret stand outside the Grand Hotel in Brighton.
Pic: PA
Image:
Lord Tebbit and his wife Margaret stand outside the Grand Hotel in Brighton. Pic: PA

Tory grandee David Davis told Sky News Lord Tebbit was a “great working class Tory, always ready to challenge establishment conventional wisdom for the bogus nonsense it often was”.

“He was one of Thatcher’s bravest and strongest lieutenants, and a great friend,” Sir David said.

“He had to deal with the agony that the IRA visited on him and his wife, and he did so with characteristic unflinching courage. He was a great man.”

Reform leader Nigel Farage said Lord Tebbit “gave me a lot of help in my early days as an MEP”.

He was “a great man. RIP,” he added.

Prime Minister Margaret Thatcher with Employment Secretary Norman Tebbit.
Pic: PA
Image:
Lord Tebbit as employment secretary in 1983 with Mrs Thatcher. Pic: PA

Born to working-class parents in north London, he was made a life peer in 1992, where he sat until he retired in 2022.

Lord Tebbit was trade secretary when he was injured in the Provisional IRA’s bombing in Brighton during the Conservative Party conference in 1984.

Five people died in the attack and Lord Tebbit’s wife, Margaret, was left paralysed from the neck down. She died in 2020 at the age of 86.

Before entering politics, his first job, aged 16, was at the Financial Times where he had his first experience of trade unions and vowed to “break the power of the closed shop”.

He then trained as a pilot with the RAF – at one point narrowly escaping from the burning cockpit of a Meteor 8 jet – before becoming the MP for Epping in 1970 then for Chingford in 1974.

Norman Tebbit during the debate on the second reading of the European Communities (Amendment) Bill, in the House of Lords.
Pic: PA
Image:
Lord Tebbit during an EU debate in the House of Lords in 1997. Pic: PA

As a cabinet minister, he was responsible for legislation that weakened the powers of the trade unions and the closed shop, making him the political embodiment of the Thatcherite ideology that was in full swing.

His tough approach was put to the test when riots erupted in Brixton, south London, against the backdrop of high rates of unemployment and mistrust between the black community and the police.

He was frequently misquoted as having told the unemployed to “get on your bike”, and was often referred to as “Onyerbike” for some time afterwards.

What he actually said was he grew up in the ’30s with an unemployed father who did not riot, “he got on his bike and looked for work, and he kept looking till he found it”.

Continue Reading

Politics

‘Oui’ or ‘non’ for Starmer’s migration deal?

Published

on

By

'Oui' or 'non' for Starmer's migration deal?

👉Listen to Politics at Sam and Anne’s on your podcast app👈       

The first European state visit since Brexit starts today as President Emmanuel Macron arrives at Windsor Castle.

On this episode, Sky News’ Sam Coates and Politico’s Anne McElvoy look at what’s on the agenda beyond the pomp and ceremony. Will the government get its “one in, one out” migration deal over the line?

Plus, which one of our presenters needs to make a confession about the 2008 French state visit?

Continue Reading

US

Benjamin Netanyahu nominates Donald Trump for Nobel Peace Prize – as Gaza ceasefire talks continue

Published

on

By

Benjamin Netanyahu nominates Donald Trump for Nobel Peace Prize - as Gaza ceasefire talks continue

Israel’s prime minister has nominated Donald Trump for the Nobel Peace Prize.

Benjamin Netanyahu made the announcement at a White House dinner, handing over the letter for the US president to read.

“Coming from you in particular, this is very meaningful,” Mr Trump said.

The Israeli leader said Mr Trump was “forging peace as we speak, and one country and one region after the other”.

Organisers award the prize to the person who does the most for “fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses”.

Benjamin Netanyahu showed President Trump the Nobel nomination letter. Pic: AP
Image:
Benjamin Netanyahu handed Donald Trump the Nobel nomination letter. Pic: AP

Mr Trump took credit for stopping Iran and Israel‘s “12-day war” last month, announcing it with fanfare on Truth Social, and the ceasefire has so far held.

The president has claimed US strikes obliterated Iran’s purported nuclear weapons programme – and that the country now wants to restart negotiations.

“We have scheduled Iran talks, and they want to,” Mr Trump told reporters on Monday. “They want to talk.”

👉 Follow Trump100 on your podcast app 👈

Iran hasn’t confirmed the move, but its president told US broadcaster Tucker Carlson he believes his country can resolve differences with the US through dialogue.

Masoud Pezeshkian also said Iran would be willing to resume cooperation with the UN nuclear watchdog.

However, he said full access to nuclear sites wasn’t yet possible as US strikes had damaged them so badly.

Please use Chrome browser for a more accessible video player

Netanyahu arrives in US for ceasefire talks

Away from Iran, fighting continues in Gaza and Ukraine.

Mr Trump famously boasted before his second stint in the White House that he could end the Ukraine war in 24 hours.

The reality has been very different – with Ukraine saying last week that Russia unleashed the heaviest aerial attack of the war so far.

Critics have also claimed Vladimir Putin is “playing” his US counterpart and that he has no intention of agreeing a ceasefire.

Please use Chrome browser for a more accessible video player

Russia bombards Ukraine with drones and missiles

However, Mr Trump could try to take credit for progress in Gaza if – as he’s suggested – an agreement on a 60-day ceasefire is done this week.

Indirect negotiations with Hamas are taking place that could lead to the release of some of the remaining 50 Israeli hostages and a surge in aid to Gaza.

The White House said Middle East envoy Steve Witkoff is travelling to Qatar this week to try to seal the agreement.

Read more:
Israeli soldier describes arbitrary killing of civilians in Gaza

IDF troops ‘psychologically broken’ after Gaza – UN expert

Please use Chrome browser for a more accessible video player

‘Some Israeli commanders can decide to do war crimes’

Follow the World
Follow the World

Listen to The World with Richard Engel and Yalda Hakim every Wednesday

Tap to follow

Whether a temporary pause could open a path to a lasting peace remains uncertain, with the two sides’ criteria for peace still far apart.

Mr Netanyahu has said Hamas must surrender, disarm and leave Gaza – something it refuses to do.

He also told reporters on Monday that the US and Israel were working with other countries who would give Palestinians “a better future” – and indicated those in Gaza could move elsewhere.

“If people want to stay, they can stay, but if they want to leave, they should be able to leave,” he added.

“We’ve had great cooperation from… surrounding countries, great cooperation from every single one of them. So something good will happen,” Mr Trump said.

The president was widely criticised earlier this year when he suggested resettling Gaza’s population to countries such as Jordan and Egypt and turning it into the “Riviera of the Middle East”.

Human rights groups said the plan amounted to ethnic cleansing and most Gazans said they would never consider leaving.

Continue Reading

Trending