Required Minimum Distribution Changes for 2025
New withdrawal requirements for inherited IRAs create tax planning challenges for beneficiaries.
What are Biggest Financial Blunders Folks make after 50?
Reaching age 50 is a milestone that most of us celebrate. Still, after you’ve blown out the candles and bid farewell to your guests, you may have a headache from too much champagne, but otherwise feel the same as before.
Don’t Delay Updating Your Estate Plan
Changes in tax law and in your personal life may mean that yours needs to be updated. Here are the easiest (and smartest) ways to do it.
Common Questions Concerning SECURE Act 2.0
The speakers touched on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, including the provision that a designated beneficiary must distribute the entire inherited IRA by Dec. 31 of the 10th year after the employee’s or IRA owner’s death (the 10-year rule), thus doing away with the stretch IRA for most beneficiaries.
Some Assets Better Left Outside of Will
That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
Can You Catch-up? IRS Increases Contributions Limits
If you find that you have fallen behind in your retirement savings, you are not alone. Investment advisor Vanguard reported recently that only 14% of 401(k) participants contributed the maximum amount annually, and only 16% of eligible employees 50+ made additional catch-up contributions.
What Does Inflation Reduction Act Mean for Seniors?
One often unrecognized fact regarding drug pricing is the difference in bargaining power depending on what agency or group is doing the bargaining.
Create a Legacy With Your IRAs
Maximize the impact of your legacy and make sure it supports the people and causes that are most important to you.
What Is the Best Way to Leave Money to Children?
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
Is an IRA Conversion a Good Idea when the Market Is Down?
Soaring inflation, interest rate hikes and the war in Ukraine have sparked ongoing stock market volatility. However, there may be a bright spot: the chance to save money on a Roth conversion.
