Retirement Watch Weekly
Understanding the New Fiduciary Rules for Retirement Accounts
You might have noticed a lot of reports in the media in early April regarding the application of the “fiduciary standard” to IRAs and similar accounts. You likely will see additional reports, because some in Congress want to override these new regulations by the Department of Labor, and some private entities might sue to overturn […]
What Every Spouse Needs to Know About Inheriting an IRA
Many mistakes are made with inherited individual retirement accounts (IRAs). The rules aren’t straightforward or intuitive, so people often make the wrong decisions, resulting in thousands of dollars of taxes unnecessarily paid to the Internal Revenue Service (IRS). Your loved ones need to know what to do when they inherit an IRA. Knowing the rules […]
How to Weed Outdated Assumptions from your Estate Planning Strategy
Is your estate plan based on some incorrect assumptions? Unfortunately, it probably is. A lot of changes occurred over the years, and they affect the underlying assumptions of many plans. Plus, some traditional estate planning assumptions weren’t valid in the first place. We know that, because we have better information now. Be sure that neither […]
Why Growth Might be Ready to Increase
We could be set for another growth spurt in the economy. The surge in the investment markets starting on Feb. 11 anticipated that growth. The Federal Reserve, as usual, has been behind the curve and events. But the Fed members do learn and adapt. They made changes that boosted the markets and will help the […]
Where to Invest Cash Now
Interest rates are going to remain low for a while yet. The Federal Reserve recently made that clear. You’ll continue to earn historically low yields from traditional safe cash investments such as money market funds, treasury bills and the like. While cash can be a good place to protect money during a crisis, many people […]
Making Sure this Year’s Tax Strategies Work
Tax planning is harder than ever, especially for many in their 50s and older. That’s because Congress continues to tinker with the tax code. Over the years, many provisions that I call Stealth Taxes were created. The Stealth Taxes include the 3.8% Medicare surtax on net investment income, the Medicare premium surtax, the inclusion of […]
Why You Should Make Charitable Contributions from Your IRA
Congress finally delivered good news to individual retirement account (IRA) owners late in 2015. The Protecting Americans from Tax Hikes Act of 2015 (PATH) made permanent the qualified charitable distribution (QCD) from IRAs for taxpayers ages 70½ and older. The QCD, one of the best ways to make charitable gifts, has been in and out […]
Estate Planning for Your Collectibles and Treasures
One of the most difficult problems in Estate Planning is determining how to handle personal collections and similar special assets. Often the owner has devoted more than money to these assets. The collection is a special interest that consumed much time and attention, and there probably is an emotional investment as well. The owner had […]
