Submitted by Jim Blankenship on Mon, 10/13/2014 - 12:00pm
For most folks, when you reach 70½, you must start taking money from your retirement accounts every year. A little flexibility exists in the first year for you to plan withdrawals to your tax advantage.
Submitted by H. Jude Boudreaux on Mon, 10/06/2014 - 3:00pm
Your own individual retirement account is generally exempt from the reach of creditors, but an inherited account may not be. If you plan to pass on an IRA to heirs, read on to learn how to better safeguard the money.
Submitted by Jim Blankenship on Mon, 09/29/2014 - 12:00pm
For forever and a day, conventional planning wisdom said don’t use your individual retirement account funds to buy an annuity, primarily because traditional annuities featured tax deferral. Recent changes in annuities may alter this conventional wisdom.
Submitted by Grant Webster on Mon, 08/18/2014 - 12:00pm
If 20-somethings ask me what to do to get ahead financially, I have a laundry list: create a budget, start investing now, be smart about your taxes and so on. If I absolutely have to narrow it down to one thing, I’d say, open up a Roth individual retirement account.
Submitted by Travis Russell on Thu, 08/07/2014 - 3:00pm
Saving for retirement means you must sort out countless and confusing options from 401(k)s to individual retirement accounts. How much you make and whether you’re self-employed or have a company-sponsored retirement plan are just a few criteria to determine which to chose. One of your first questions: What’s the difference between a traditional IRA and a Roth IRA?
Many clients at our firm ask this when looking to maximize retirement savings. To understand which option may be better, let’s look at the differences and nuances between the two types of accounts.
Submitted by Barry Glassman on Wed, 08/06/2014 - 3:00pm
When you put earned income into a tax-deferred account such as an individual retirement account or a 401(k), Uncle Sam eventually wants those taxes. The Internal Revenue Service requires you to take required minimum distribution (RMD) withdrawals. You must know when and how much to take, though, or you face hefty penalties.
Here are the top five mistakes people make with RMDs and how to avoid them:
Submitted by Mary Beth Storjohann on Thu, 06/26/2014 - 12:00pm
Being your own boss means providing for your own retirement. It means that there isn’t an employer looking over your shoulder who will sign you up for a plan. You have to be more proactive in setting the money aside. But how?
Having a variable income, which is often the case for people who own their own businesses, may make it harder to budget. When it comes to saving for your future self, where do you start and which is the best option? Read on for an overview of three retirement accounts that are great options for entrepreneurs.
Submitted by Dan Crimmins on Tue, 06/24/2014 - 12:00pm
Life expectancy has consistently increased through the years. Most of today’s retirees will live longer than their parents did. Understanding the length of retirement that you are likely to face will better prepare youto make investment choices.
The Society of Actuaries, an organization that tracks how long people live to assist companies understand the risk of their pensions, recently updated its mortality tables for the first time since 2000.