Destry Witt Blog

Essential Retirement Strategies

Essential Retirement Strategies

Saving for retirement is a lofty financial goal for most individuals, and devising the right investment plan or financial-management strategy can often be of the utmost importance. Building the best strategy often involves drawing upon a wide range of tactics, resources, and financial management techniques. Discounting or overlooking retirement strategies simply because that may seem unlikely to work, heavily involved, or even counterintuitive can be a costly misstep.

The Rising Popularity of Manufactured Housing Investments

The Rising Popularity of Manufactured Housing Investments

For some time, manufactured housing or mobile homes have been branded with some stigma. From the stereotypes that accompany terms such as “trailer parks,” manufactured housing has often had a bad reputation. However, in recent years, many investors have found manufactured housing to be an excellent investment opportunity. In fact, as written in a recent article for the Wall Street Journal by Ryan Dezember, it’s been “one of the best performing investments since last decade’s housing crash.”

Coronavirus and Your Travel Plans

Coronavirus and Your Travel Plans

Coronavirus is continuing to spread worldwide since its origination in China. The virus has entered countries in the Middle East, countries in Europe and even America. It is important to consider what to do about traveling internationally with the outbreak of coronavirus.

Benefits of a Self-Directed IRA

Benefits of a Self-Directed IRA

When it comes to planning for your retirement, a top priority is ensuring financial stability. However, in this same vein, it is important to plan appropriately so that you are able to make the most of your retirement. Rather than aiming to simply survive, it is advised that you take control of your retirement plan and aim to procure a more prosperous approach.

Savings vs. Income in Retirement

Savings vs. Income in Retirement

When thinking about retirement, you should make sure to have a clear understanding of savings vs. income. When thinking about retirement, many think about a particular savings amount that they would like to reach. This type of thinking comes from how general purchases are made. If you want to buy a computer, you would save the amount of money that you would need to buy a computer. However, saving for retirement is not as easy. 

Thinking About Rolling Over Your 401k?

Thinking About Rolling Over Your 401k?

An increasing number of employers offer 401(k) plans for their employees. It’s estimated that the average employee will have 10 jobs before they hit 40 years old. This means that there are millions of 401(k) accounts that are essentially orphans. Most companies will allow old employees to leave the money alone, and 22% leave their money with their old employers. However, you might want to roll over your 401(k) to your new employer’s plan or an IRA. 

What to Know About UBTI With Your IRA

What to Know About UBTI With Your IRA

Self-Directed SEPs and IRAs are wonderful tax shelters for growing investments tax-deferred, or even tax-free in the case of Roth IRAs. Since the financial crises a decade ago already, we recommend all of our wealthy clients move at least some assets to one of the dozens of qualified providers for such accounts. It is amazing the flexibility we all have to avoid taxes—and how much about it we probably don’t understand. However, there are occasions where the income produced by an IRA-owned investment might generate taxes known as Unrelated Business Taxable Income (UBTI) and Unrelated Debt-Financed Income (UDFI).