What Is a Required Minimum Distribution?
RetirementArticle Highlights:
Required Minimum Distributions
When the Distributions Must Begin
RMD Distribution Tables
Figuring the Amount of the Distribution
Beneficiary Distribution Rules
Surviving Spouse
Eligible Designated Beneficiaries
…
Will Your Planned Retirement Income Be Enough after Taxes?
RetirementArticle Highlights:
States With No Income Tax
Social Security Benefits
Roth IRA Retirement Account
Traditional IRA Retirement Account
Spousal IRA
Back-Door Roth IRA
Saver’s Credit
Employer Pensions
Employee Funded…
What Every Employee Needs to Know About 401(k) Savings
RetirementAre you familiar with 401(k) retirement funds?
More and more employers are offering 401(k) plans as an employee benefit, and if you have the option and are not currently taking advantage of it, it may be time to rethink your savings strategy.…
Read This First Before Tapping Your Retirement Savings
RetirementArticle Highlights:
Tapping Your Retirement Savings
Traditional IRAs and Qualified Retirement Plans
Simple IRAs
Early-Withdrawal Penalties
Reduction in Retirement Savings
Exceptions from the Early-Withdrawal Penalty
Roth…
New Tax Rules for Retirees
RetirementIf you are at or approaching the age of 70, you need to be aware of some changes that Congress made to the tax laws, effective starting in 2020. These changes will have direct impacts on you and the decisions you make related to your retirement…
Eldercare Can Be a Medical Deduction
Deductions, Retirement, Tax TipsBecause people are living longer now than ever before, many individuals are serving as care providers for loved ones (such as parents or spouses) who cannot live independently. Such individuals often have questions regarding the tax ramifications…
Combating Retirement Anxiety and the Fear of Running Out of Money
RetirementRetirement is the endgame for most people — it's literally why we work so hard our entire lives. But it's also no longer a situation that is as straightforward as it once was, particularly as far as financial planning is concerned.
According…
It’s Not Too Late to Make a 2018 Retirement-Plan Contribution
RetirementHave you been ignoring your future retirement needs? This tends to happen when people are young; because retirement is far in the future, they believe that they have plenty of time to save for it. Some people even ignore the issue until late…
Here's How to Use 2019 as a Chance to Save More Money Than Ever in the Long Run
Retirement, SavingsA new year is nothing if not a new opportunity – and one that it would be an absolute shame not to take full advantage of. Every January, people make countless New Year’s resolutions. Some want to lose weight; others want to become more…
Thinking of Tapping Your Retirement Funds Early? What You Need to Know
RetirementIf you are suddenly in need of a substantial amount of cash, probably the last thing you should do is tap your retirement funds. They are the key to a financially comfortable retirement. The younger you are, the less likely you are to think…