From: theamericanretiree.com
You may want to consider Roth IRAs if you wish to add to your 401(k) or don’t have a 401(k) and need an alternative way to save for retirement. We’ll talk about Roth IRAs, how they differ from other retirement accounts, and how you can decide if you want one.
In a Roth IRA, you can invest money…
From: www.thinkadvisor.com
The College Savings Recovery Act would allow rollovers of unused education savings without a tax penalty.
Sens. Richard Burr, R-N.C., and Bob Casey, D-Penn., have introduced the College Savings Recovery Act, legislation to allow for special rollovers to Roth IRAs from long-term qualified tuition programs without a penalty.
The College Savings Recovery Act, introduced Tuesday, was originally included as part…
From: www.investmentnews.com
Although the SECURE Act eliminated stretch IRAs for most beneficiaries, replacing them with the 10-year post-death payout rule, some beneficiaries can still use a stretch IRA.
The so called “stretch IRA” allows designated beneficiaries to extend required minimum distributions and the tax deferral over their life expectancy based on their age in the year after death. Designated beneficiaries are individual beneficiaries named on…
From: www.retirement.tips
If you lose your husband or wife, the last thing you’ll want to deal with is making decisions about what to do with assets they left to you.
While it’s not something that any of us like to think about, understanding your options ahead of time can simplify your life, help you avoid undesirable tax consequences, and let you…
From: www.birchgold.com
Unfortunately, when it comes to inheritance and IRAs, nothing is straightforward. Even though the inheritance rules are the same regardless of account type (Roth IRA, traditional IRA, SEP IRA, etc), each inheritance case is unique. By the end of this guide, you will understand:
From: www.wealthmanagement.com
In many, but not all, instances, a trust is a better option than naming an individual.
Trusts are terrific estate planning vehicles that allow individuals to protect and preserve wealth and to pass assets to the next generation. Individual retirement accounts (IRAs) are also useful vehicles that are often used to grow assets free from current income tax and to transfer those…
From: www.morningstar.com
There is no one best time to take the required minimum distribution.
As an age-72-or-older IRA owner, you have options regarding when to take your annual “required minimum distribution” (or RMD). You can take it early in the year, take it in monthly or other periodic instalments, or wait until the last minute. Which is best?
Surprise–there is no one “best” time to take…
From: www.morningstar.com
Here’s a question I get at least once a week: “I’m dealing with a trust that holds an inherited IRA. Can the trustee transfer that IRA out to the individual beneficiary(ies) of the trust?” The unspoken part of the question is, “….without triggering an income tax?”
The simple answer is yes, in most cases a trustee can transfer an inherited…
From: www.forbes.com
Retirement planning is about more than just saving money – it’s about generating an income plan for spending money. You can break saving for retirement into three main goals: automate savings as much as possible during working years; invest in long-term growth investments with low fees; and stay engaged and employed…
From: REAP, LLC. | Retirement & Estate Advisors & Professionals
On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act, which is effective January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. The SECURE Act has several positive changes: It increases the…
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