Individual Retirement Accounts - IRAs
Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions
Found 429 Articles.
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Recent Law Simplifies QLACs, Increases Their Benefits
The benefits of adding a qualified longevity annuity contract (QLAC) to your IRA were increased and made easier to take advantage of in a recent law. A QLAC delays some required minimum distributions (RMDs) and generates guaranteed lifetime income after that, ensuring you never run out of income during retirement. Some people also consider them […]
New Law Allows Tax-Free Rollover from a 529 Plan to a Roth IRA
The tax-free nature of money in a 529 tuition savings plan can be continued, even after the education spending need has passed, thanks to a provision in the SECURE Act 2.0. But numerous hurdles must be cleared to take advantage of the 529-to-Roth rollover, and those hurdles might mean the rollover isn’t available to many […]
Recent Law Simplifies QLACs, Increases Their Benefits
The benefits of adding a qualified longevity annuity contract (QLAC) to your IRA were increased and made easier to take advantage of in a recent law. A QLAC delays some required minimum distributions (RMDs) and generates guaranteed lifetime income after that, ensuring you never run out of income during retirement. Some people also consider them […]
6 IRA Moves to Take During 2023
The halfway point of 2023 has passed. This is a good time to plan how you’ll manage IRAs for the rest of the year. Don’t be like most people and scramble in November and December. Here are some key steps most people should consider. Donate via a QCD. A qualified charitable distribution (QCD) is the […]
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IRA Changes for 2023 and 2024 You Should Know
Congress and the IRS have been busy the last couple of years. IRAs and other retirement plans have captured much of their attention. In just the last few years, Congress passed the SECURE Act and the SECURE Act 2.0. Plus, other laws had provisions that affected retirement plans. The IRS also has been busy with […]
Facts to Know Before Taking the Social Security Lump Sum Cash Option
The Social Security Administration still is doing a disservice by coaxing applicants into taking the optional lump sum cash payment when they sign up. The beneficiaries more than pay for it over the long term. The lump sum option isn’t new. But many applicants don’t know about it until the SSA offers it to them […]
6 IRA Moves to Take During 2023
The halfway point of 2023 has passed. This is a good time to plan how you’ll manage IRAs for the rest of the year. Don’t be like most people and scramble in November and December. Here are some key steps most people should consider. Donate via a QCD. A qualified charitable distribution (QCD) is the […]
Beware of Trusts as IRA Beneficiaries
It is now more dangerous to name trusts as IRA beneficiaries because of recent tax law changes, but there’s a valuable exception when the surviving spouse is the sole beneficiary of the trust. There always have been problems naming trusts as IRA beneficiaries when non-spouses are trust beneficiaries. The SECURE Act, enacted in 2019, increased […]
