The Ultimate Guide to Opening IRA Accounts

David Flaherty
-
0
The Ultimate Guide to Opening IRA Accounts

Regardless of whether you want to start working towards a grand retirement plan to travel the world, or whether you just simply want to lead a simple life with your significant other in the future, opening an Individual Retirement Account (IRA) can solve your woes. An IRA is essentially a simple and effective way to save up your pre-tax money for your retirement, giving you the financial freedom to live comfortably. IRAs are versatile, giving individuals the freedom to start an account with as many financial services providers as you want according to your preference. Plus, there are plenty of options out there for you to explore, and you can start by finding out more about RegalAssets. If you are looking to open one soon, look no further as we have compiled a list of important factors to look out for especially for beginners.

Tax Benefits

IRA is a good way to save on taxes even if it’s for a relatively short term. As of 2020, individuals can contribute as much as $6000 to their IRA, or $7000 if you are 50 years and above. The tax savings are rather significant, as it can essentially cover the cost entirely of about $1000 and higher, determined by your own individual income tax bracket and if your state necessitates each individual to be subjected to income tax.

Being Aware of Your Financial Services Options

Traditional investment brokerage firms are useful, but modern times have also allowed the service of investment advisors to help you navigate your way through all the technicalities and clauses that opening an IRA brings about. With experts on board with you, you can take advantage of their services to thoroughly understand what you are signing up for with the help of data analyzers who can assess the practicality of every type of investment for you. By establishing trust and rapport, you will be in the good hands of these experts who can help you make investment decisions while putting your monetary interests first.

However, such personalized services do not come cheap. Despite the high commissions and fees that retirement savers have to pay, this type of service is most suitable for novices who’d prefer having an expert to give professional advice and to recommend the best times to buy and sell based on your individual needs. For retail brokers, their expertise lies in investigating, analyzing, and making transactions on your behalf, to ensure that your IRA is maximized to its full potential of experiencing steady growth.

Discount Brokers

Discount brokers can offer more than that, as they commonly hold webinars and seminars to educate individuals on the latest trends, and all the information that they need to know to make informed investment decisions. They are able to disseminate such information in layman and simple terms, making it extremely easy to understand. Discount brokers are more useful for individuals who prefer to be self-directed, instead of executing transactions on your behalf, and offer more generic services like answering queries and providing you with more information to allow you to make an informed decision by yourself.

Furthermore, the brokerage sites also offer many DIY tools for independent savers. Some of them even allow individuals to key in their financial information, offering a tailored experience based on your actual financial situation.

Traditional Broker

If you want to engage a traditional broker, be mindful that you’ll have to have a minimum overall investment portfolio value of $250,000. Personalized services are rather costly, and they also have to be enough viable trading movements to account for you opening an IRA account. They offer a more direct approach in helping you with your investment executions, offering both Roth and traditional IRAs that you can easily open online as well.

Banks

Instead of turning to a broker to help you, you can head to banks as well. Similar to discount brokers, they offer independent investment accounts for clients to deal with, and may even offer extra research and evaluation services. Clients are expected to choose their investments themselves, instead of letting the bank choose it for them. Increasingly, banks also provide retail brokerage services with financial experts who can manage your IRA for you, while earning a portion of the assets you own. Furthermore, banks give you the convenient option of arranging for self-activated monthly deposits to your IRA account through your bank account; thus giving you less work to do on your own.

Financial Trust Companies

Financial trust companies manage large pensions funds, while other assets offer self-directed and independent IRAs. They typically manage private equity, notes, real estate, stocks, bonds, mutual funds, and other non-exchange traded assets. With a vast variety of assets that they provide, individuals are able to further diversify their portfolio by including other industries and scopes of investment. However, one point to take note of is that they do not offer tax or investment advice, that newbies may require. As custodians, they manage and operate investments by being a third-party provider, and hence, clients are required to do their own research instead of relying on their expertise alone.

A tip is to always check out the fees and commissions that they charge, regardless of which institution and the type of account you select at the end of the day. These fees can amount to quite a number, depending on the size of your assets in your portfolio or your transactions.

Doing Research

While there are a host of outlets to help with your IRA accounts, you should not neglect your own research and read up as much as you can before you decide on anything, as it allows you to at least have a basic understanding of how IRA accounts work and how the normal procedures are like. However, do bear in mind that some resources online do require a small fee, and sometimes paying for them is worth it. 

With Robo-trading and Robo-advisors, it can soon be attainable for individuals to cut out the middleman and save on costs and engage in trade execution on your own, order to buy or sell directly through discount brokers for low prices.

In a Nutshell

Ultimately, doing your own research and deciding on which account or institution to go for is important, as you can identify your needs and goals. Gather as much information as you need before opening an account, and be sure that you are comfortable with what the broker has to offer. At the end of the day, the money that you profit is yours, and not the brokers, so ensure that you are in the loop and communicate with your broker about your changing needs and wants.

3 Earthquakes Just Rocked North Carolina Between Charlotte and Tennessee Border

Charlotte Stories
-
0
3 Earthquakes Just Rocked North Carolina Between Charlotte and Tennessee Border

3 Earthquakes just shook North Carolina halfway between Charlotte and the Tennessee boarder, according to the USGA. The largest of the 3 quakes had a magnitude of 2.3 and was rated as a 3 by the USGA’s user submitted ‘felt report’.

The most recent of the 3 quakes occurred last night at 10:11 pm, with a magnitude of 2.1 and an epicenter of 35.292°N 82.513°W (just south of Hendersonville, NC and about 80 miles west of Charlotte).

Earthquakes have been increasing in frequency around the Charlotte region over the past few years. Last year, we saw a 4.4 magnitude quake hit Decatur, TN, and a couple months ago, a 2.6 magnitude quake rocked a small town just north of Charlotte.

The Carolinas have been known to experience the occasional damage-causing earthquakes.

According to USGS.gov, “The largest earthquake in the area (magnitude 5.1) occurred in 1916. Moderately damaging earthquakes strike the inland Carolinas every few decades, and smaller earthquakes are felt about once each year or two.”

Did you feel last night’s quake? 

Governor Cooper Announces 2020 Hurricane Preparedness Week – New Tools and Recommendations

Charlotte Stories
-
0
Governor Cooper Announces 2020 Hurricane Preparedness Week – New Tools and Recommendations

The Governor of North Carolina has just announced this week to be ‘Hurricane Preparedness Week’ all across our state. Governor Cooper reminded residents that now is the time to prepare for the 2020 hurricane season, which will from June 1 through November 30 of 2020.

“North Carolina knows all too well the damage and disruption that hurricanes can bring, but being prepared can help people fare better and recover quicker,” Governor Cooper said in a press release. “Especially with COVID-19 affecting everyone’s daily lives, now is the time to make sure you and your family are ready this hurricane season.”

During this hurricane season, North Carolina is introducing Know Your Zone, a tiered evacuation system that highlights areas most vulnerable to storm surge from hurricanes and tropical storms, and other hazards. If it becomes necessary, local officials will order evacuations using pre-determined zones created by coastal counties. The Know Your Zone lookup tool is a new color-coded interactive map you can use to determine the evacuation zone where you live, work, or are visiting based upon street address.

During this time, officials are also recommending that all North Carolina residents prepare for possible power outages from hurricane damage. The following emergency items are suggested for all homes in our our state;

Governor Cooper urged families to use this week to discuss their emergency plans, update their emergency supplies, and review their homeowners and renter’s insurance policies. This year, it’s also important to consider how the COVID-19 virus might alter your typical preparedness for hurricane season.

UNC Charlotte Center City School Named in Honor of Philip L. and Lisa Lewis Dubois

Charlotte Stories
-
0
UNC Charlotte Center City School Named in Honor of Philip L. and Lisa Lewis Dubois

UNC Charlotte is recognizing the legacy of retiring Chancellor Philip L. Dubois and First Lady Lisa Lewis Dubois by renaming the University’s uptown Charlotte Center City School Building in their honor. Regarded as a centerpiece to Dubois’ 15-year term as chancellor, the 11-story glass structure on the corner of 9th and Brevard Streets will now be known as The Dubois Center at UNC Charlotte Center City (The Dubois Center).

Dubois_Center_City_Campus.jpgThe $50.4 million facility, which opened in fall 2011, is the only University of North Carolina classroom building conceived and designed specifically to serve the business, organizations and people in an urban center. The Uptown campus building is part of the 1.2 billion facility construction and renovation program Dubois completed during his tenure as chancellor. The space, which accommodates more than 1,300 students annually who are earning bachelor’s or master’s degrees plus almost 2,600 more participating in continuing education options, includes 25 state-of-the-art classrooms and design studios, meeting and performance spaces. The Projective Eye Gallery, located near the lobby, regularly exhibits the work of artists known locally, nationally and internationally.

“Phil came to me with this audacious idea of starting a new campus right in the middle of uptown Charlotte,” said Erskine Bowles, president of the UNC System when the concept was first proposed. “Over time, we were able to convince the legislature this building could make an enormous difference, that it could drive business and opportunities for Charlotte and the region for decades to come.”

Proximity to the University’s highly ranked part-time MBA evening program and continuing education programs for those who live and work uptown, as well as to more than 1,800 University, corporate and community events every year fulfill Dubois’ original vision to elevate the University’s profile in the Charlotte region and beyond.

“We knew we needed to have a more substantial and visible presence,” Dubois said. “That led to the decision to make our No. 1 campus construction priority a new building in Center City.”

Dubois’ foresight has been confirmed by the subsequent development of the surrounding neighborhood, which includes installation of popular First Ward Park, positioned between The Dubois Center and the city’s thriving business district, and a new light rail station, which provides more than 100 daily stops to the University’s main campus in University City.

Throughout the city, including on the main campus, are evidence of the civic contributions of Lisa Lewis Dubois, efforts that extend far beyond the traditional role of a university first lady. A passion for providing a platform for women led to serving as co-chair of the Charlotte-Mecklenburg Women’s Summit, whose outcomes guided the implementation of the Women+Girls Research Alliance, housed at the UNC Charlotte Urban Institute. Her imprint is evident on numerous education and cultural efforts that have made a difference in the lives of countless Charlotteans.

“The legacy of Chancellor Phil Dubois and First Lady Lisa Lewis Dubois is not limited to their leadership within the walls of the UNC Charlotte campus,” said Michael L. Wilson ‘93, chair of the UNC Charlotte Board of Trustees. “They have worked diligently to connect UNC Charlotte to the greater Charlotte community; as the city grew, UNC Charlotte grew with it.”

The Dubois Center at UNC Charlotte Center City is more than just a building; it’s a tangible example of the University serving the needs of a growing urban region, consistent with the institution’s mission.

“The change in the University’s visibility has paid real dividends,” Dubois said. “I feel good about leaving UNC Charlotte in a strong position as an integral partner in this great city.”

To read more about the Dubois’ leadership at UNC Charlotte, visit the Dubois Legacy Series. Visit the UNC Charlotte media assets website for a collection of photos and videos of The Dubois Center.

Charlotte’s Bonchon Launches ‘Hearts & Soles’ Campaign To Benefit Employees Affected By COVID-19

Charlotte Stories
-
0
Charlotte’s Bonchon Launches ‘Hearts & Soles’ Campaign To Benefit Employees Affected By COVID-19

Charlotte’s own Bonchon, just launched their ‘Hearts & Soles’ campaign in support of hospitality industry non-profit National Restaurant Association Educational Foundation (NRAEF) and their Restaurant Employee Relief Fund (RERF). In partnership with Threadless, limited edition Bonchon-designed shoes will be on sale with all proceeds benefiting RERF and restaurant industry workers adversely affected by COVID-19. The casual Bucketfeet brand sneakers, featuring one-of-a-kind playful designs created by resident artist, Leanne Aks, will retail for $59.99, available exclusively through Bonchon’s online shop: https://www.threadless.com/@BonchonChicken. The shop will also include other Bonchon designed swag where all proceeds will benefit NRAEF. Image link to shoes/socks available here.

Bonchon is widely known for its double fried chicken and enthusiastic fan base. The restaurant chain has been growing its list of global communities since 2002.

“With the support of Bonchon, we can help restaurant workers across the country with financial aid during this incredibly difficult time,” said Rob Gifford, president of the NRAEF. “We have raised more than $17 million so far and are grateful for the generous support of companies like Bonchon who are stepping up with creative ways to help the heart and soul of our industry – it’s people.”

NRAEF created the Restaurant Employee Relief Fund to help restaurant industry workers experiencing hardship in the wake of the coronavirus outbreak. Through this fund, grants will be made to restaurant industry workers impacted by COVID-19 and are experiencing a decrease in wages or loss of employment. Subject to the availability of funds contributed, a one-time grant of $500 will be disbursed to each applicant, following NRAEF’s review and confirmation that the application meets eligibility. The NRAEF is accepting individual donations, no matter how small. Visit RERF.us to learn more about the fund and find out how you can donate.

North Carolina Just Approved More Than $1.5 Billion In COVID-19 Relief Funds

Charlotte Stories
-
0
North Carolina Just Approved More Than $1.5 Billion In COVID-19 Relief Funds

This past weekend, the NC General Assembly signed 2 widespread bills (HB 1043 and SB 704) that will provide over $1.5 billion in relief during our current COVID-19 pandemic.

The bills are designed to provide financial relief to a wide spectrum of communities, organizations, and municipalities across our state.

Governor Cooper, who is expected to sign both bills soon, released the following statement about the bills:

“I applaud the General Assembly for working quickly to pass legislation to fight COVID-19 in North Carolina. These bills were developed collaboratively, and although it’s just a first step, they are the product of a consensus approach that I hope can continue. I will be reviewing them closely and look forward to taking action on them soon.”

 

The bills will provide:

Over $280 million for educational organizations, with the following breakdown:

  • $75 million for School Nutrition
  • $70 million for Summer Learning Programs
  • $11 million for K-12 Connectivity
  • $30 million for K-12 Student Devices
  • $10 million for Student Health
  • $25 million for Community Colleges
  • $44.4 million for UNC Flexibility Funding
  • $20 million for Private College Assistance

$115 million for DHHS, with the following breakdown:

  • $25 million for Testing, Tracing and Trends
  • $20 million for Enhanced Public Health Capacity
  • $20 million for Enhanced Behavioral Health
  • $50 million for Rural and Underserved Communities

$27.5 million for Food, Safety, Shelter, Foster and Child Care

$25 million for Assisted Living Facilities

$85 million for the N.C. Medical School Research Fund, with the following breakdown:

  • $29 million for UNC School of Public Health/NC Collaboratory
  • $15 million for Duke University Human Vaccine Institute
  • $15 million for ECU Brody School of Medicine
  • $6 million for Campbell University School of Osteopathic Medicine
  • $20 million for Wake Forest University Health Services

$95 million for North Carolina Hospitals, including the following breakdown:

  • $65 million for Rural Hospitals
  • $15 million for Teaching Hospitals Relief Fund
  • $15 million for the General Hospital Relief Fund

$150 million for Local Government Assistance

$61.5 million for Providers and Emergency Responders, including the following breakdown:

  • $50 million for Enhanced PPE and Sanitation Supplies
  • $5 million for Association of Community Health Centers
  • $1.5 million for Prescriptions for Indigent and Uninsured
  • $5 million for Charitable Clinics

$125 million for Small Business Assistance Loans

$85 million for State Government Operations

$300 million for Transportation Operations

$5 million for Tourism Industry Support

$9 million for Broadband Connectivity

 

What do you think about all the assistance? 

Do you think the money is being used wisely? 

North Carolina Zoo Announces Name of New Baby Rhino

Charlotte Stories
-
0
North Carolina Zoo Announces Name of New Baby Rhino

The North Carolina Zoo and First Lady of North Carolina Kristin Cooper are excited to announce the name of the second female southern white rhino born at the Zoo this year, on Monday, Feb. 24.  She was born to mom Linda and dad Stormy.

Mrs. Cooper announced in a video that “Jojo” is the winning name chosen by the public. The public was invited to vote in an online poll from a list of names provided by the Zoo’s rhino keepers.

“Jojo” (pronounced joe-joe) is named after rhino keeper Joseph “Jojo” Wachira of the Ol Pejeta Conservancy in Kenya. Wachira was one of the last caretakers of Sudan, the last male northern white rhino, featured in the documentary film “Kifaru.” *Phonetic pronunciations at the end

Wachira’s connection to North Carolina began when he visited the RiverRun International Film Festival in 2019 with North Carolina-based director Andrew Brown for the showing of “Kifaru” in Winston-Salem.

When notified of the name choice, Wachira was “deeply honored to hear the news – this is what I believe in and fight for every day – saving rhinos.”

The Zoo’s herd now boasts a total of ten rhinos roaming the 40-acre Watani Grasslands habitat. Male Stormy and adult females Linda, Kit, Natalie, Abby, Olivia, juvenile females Nandi and Bonnie (both born in 2018) and calves Mguu and Jojo born earlier this year.

At the beginning of the 20th century, southern white rhinos were hunted to near extinction for their horns, which some erroneously believe provide medicinal benefits. Rhino horn is constructed from keratin, which is the same material that makes up human fingernails and hair.  There are currently around 20,000 southern white rhinos left in the wild, mostly in the southern Africa region.

Today, populations in the wild still face significant threats from poaching and habitat loss. In addition to their work with the rhinos at the North Carolina Zoo, staff work on projects in several countries in Southern Africa to protect wild rhinos from poaching and save the species from extinction. 

Casinos In South Carolina

Robert Dale
-
0
Casinos In South Carolina

Have you ever wondered about where to find real money casinos in South Carolina? Is gambling legal in South Carolina?  In this article, we will discuss the state of gambling in South Carolina.

Historically, racing, not real money casinos were the first gambling fixtures in South Carolina. Diverse parts of the world placed bets on racehorses but the Conservative Movement later stopped this act after World War II. 

The 1970s saw the advent of real money casinos were a normal fixture at gas stations, bars, and restaurants across South Carolina. By 1999, video gambling took the state by storm with over 29,000 found at every street corner. 

However, this came to an abrupt pause in 1999, when it became tough regulating online or video gambling websites. Therefore, the legislature banned different forms of gambling. Very few forms of gambling are legally allowed in the State. Therefore, gambling is legal in South Carolina, with some restrictions.

Fast Forward to date, there are on-going reforms to assess the mistakes with the gambling regulations of the part and set towards legalizing most forms of gambling. Nevertheless, it is important to know which forms of gambling are allowed in South Carolina and reputable outlets you can use.

Types of Casinos in South Carolina

Poker, dog racing, slots, table games, social gambling, are illegal in South Carolina. Online gambling and Daily Fantasy Sports are not precisely specified but are considered unlawful in the state. Nevertheless, bear in mind that you must be over 21 years old to gamble in any form in the state. 

Therefore, South Carolina law only identifies three legal forms of gambling, bingo, state lottery, and raffles. 

  1. Bingo: Charitable organizations are allowed to use Bingo gambling to raise funds. Entries must be $3, $5 or $18 and should have only one winner. Organizers should also announce the price pool before the night of the game and it shouldn’t be based on the price pool. Video bingo games are illegal. 
  2. Lotteries & Raffles: Lotteries are also allowed in the state and must be operated by the government. Proceeds from these events go to education. The lottery only allows traditional tickets to instant lotto and games. Keno games or video lotteries are not allowed.   
  3. South Carolina Casino: The only real money casinos allowed in South Carolina are on boats. You have to book a trip to be allowed to enjoy diverse forms of gambling from roulette, to table games, video poker, craps and slots on-board. Boarding fees cost about $7 on average. 

Where To Gamble In South Carolina

 

  1. Casino Boats: Big M Casino and SunCruze Aquacasino are the only cruise casinos allowed. You can find them at Little River Inlet, just north of Myrtle Beach. Nevertheless, note that these casino cruises are not also allowed to operate at the dock. They can only begin games after entering international waters. Cruise casinos you can use include Big M Casino and SunCruzAquacasino. 
  2. Other Gambling spots: You can also gamble at convenience stores that sell lottery tickets or visit the Catawba reservation, for high stakes bingo. Charities also from time to time offer bingo tickets.

Online South Carolina Casinos

It is possible to indulge in online gambling in South Carolina especially in the area of daily fantasy spots. The top three online casinos you can use in the state include:

  1. Liberty Slots – Liberty slots has been open since 2011. They offer up to 100% match bonuses on your first three purchases, a 200% bonus on weekly specials amidst other exclusive offers. They equally have freeroll tournaments daily. 
  2. Sloto Cash: Sloto Cash has been open since 2007. They offer diverse kinds of real money casino games; with access to unlimited cashback bonuses, daily loyalty rewards and a ViG Live Casino. 
  3. El-Royale Casino: Ex-Royale Casino is known for its no maximum payout option on special offers. Signing up provides access to a 240% slot bonus on your first purchase.

Conclusion

Gambling is allowed in South Carolina, although there are several restrictions. Most people use lotteries and bingos offered by Charity organizations and the state government. However, the best way to enjoy real money casino games is by using casino cruise or online casino games in South Carolina.

Uptown Charlotte’s ‘Reopen Meck’ Protest Drew Equal Numbers of Protesters and Reporters

Steve
-
0
Uptown Charlotte’s ‘Reopen Meck’ Protest Drew Equal Numbers of Protesters and Reporters

A small drive-by protest took place in Uptown Charlotte this afternoon at the corner of Trade and Tryon.

According to the Facebook event (hosted by ‘Reopen Meck‘), over 100 people were confirmed to attend, and an additional 45 said maybe.

At the actual protest itself, however, about a handful of protesters on foot and a dozen or so cars showed up to circle the block and honk their horns at an equally small number of reporters and photographers on the sidewalk.

There was also one very vocal counter-protester who held cash in one hand and a sign in the other that read “Churches No Church Tithes No Pastors Salary Until Aug 1 2020”. He walked around to the reporters and told them that he was giving his money to those struggling to make ends meet and that all other pastors should follow suit.

The protest was scheduled to run from 12pm to 2pm, but it began to fizzle out a little after 1pm.

What do you think about today’s protest and our state’s “stay at home order“? 

‘Reopen Meck’ Planning Protest This Afternoon In Uptown Charlotte

Charlotte Stories
-
0
‘Reopen Meck’ Planning Protest This Afternoon In Uptown Charlotte

A new group of frustrated Mecklenburg County residents is organizing an in-person protest in Uptown Charlotte today at noon to demand that our county ‘re-open’ by the end of this month.

The private Facebook group ‘Reopen Meck‘ now has over 1,400 members. According to the group’s description, they “intended to be an offshoot of the overarching ReopenNC movement” (the leader of ReopenNC has now contracted COVID-19). ‘Reopen Meck’ states that many around Mecklenburg County have found it difficult to drive up to Raleigh to protest. Group leaders are demanding that Mecklenburg County leaders “restore our liberties and freedoms no later than April 29th, 2020.”

As of yesterday morning, Mecklenburg County is reporting 1,627 confirmed COVID-19 cases and 47 related deaths, according to the NC Department of Health.

What do you think about the plans to protest? 

1...879880881...1,315Page 880 of 1,315