The government has again changed the required minimum distribution (RMD) age for those with retirement accounts, as well as offered new guidance for RMD-subjected IRAs inherited after 2020.
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Reverse mortgages, like any financial product, have their place, but it’s important to understand exactly how they work before committing to one.
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Given historic inflation, the IRS has updated the annual contribution limits for every type of retirement account and increased the standard deduction.
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In certain years, your birthday can have a key impact on your retirement planning.
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Whether you work as an independent contractor, run your own business by yourself, or do gig work on the side, you have self-employment retirement plan options that extend beyond standard IRAs.
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The IRS has just announced the 2022 contribution limits for retirement accounts.
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Nonqualified annuities do not get a step-up in cost basis at death, which means inheritance by a non-spouse will have tax consequences. Here we consider an alternative that could give you more flexibility with the terms of the contract.
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Setting up your beneficiaries for your retirement and transfer-on-death accounts is crucial to ensuring your money goes where you want it to after your death. Per stirpes is one method for keeping the children of predeceased beneficiaries from losing out.
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There is more of a difference between fixed and variable annuities than just their names. Here we take a look at the underlying distinctions in how they work.
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The Bipartisan Budget Act of 2015 closed a couple of loopholes in the Social Security claiming process. But if you were born on or before January 1, 1954, you may still be able to take advantage of one aggressive claiming strategy.
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Retirement is the much-anticipated summation of all our hard work. But before we clock out for the last time and ride off into the sunset, we should consider some prudent steps to take to protect our retirement while we enjoy it.
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The SECURE Act introduced several changes to retirement accounts, but perhaps one of the most relevant for many people is the elimination of the “stretch IRA.”
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The 2019 Setting Every Community Up for Retirement (SECURE) Act made significant changes in the way retirement accounts are handled, including the distribution requirements for tax-deferred IRAs and 401(k)s owned by the original contributor.
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People are living longer and better than at any other time in history. When long-term care is needed, costs can quickly add up. Protecting the quality of an individual’s life along with any desired legacy can become challenging. This article presents three types of strategies to consider when planning for the possibility of long-term care needs.
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Can you forgo taking your 2020 RMD? Learn more about the Coronavirus Aid, Relief, and Economic Security (CARES) Act and how it affects your Required Minimum Distributions (RMDs) for 2020.
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