IRS Issues New Guidance on Retirement Plan Early Distributions
Wealth Management
JUNE 26, 2024
Notice 2024-55 clarifies two exceptions to the 10% additional tax.
Ask The Experts: Retirement Planning Opportunities Under the SECURE 2.0 Act
Wealth Management
DECEMBER 15, 2023
Act regarding individual retirement accounts, including changing when the first required minimum distribution can be made from the account, new rules for inhe The panel of experts will discuss and answer questions about the changes made by SECURE 2.0
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Health Savings Accounts – The Other Retirement Plan
The Chicago Financial Planner
OCTOBER 21, 2021
HSAs are not subject to required minimum distributions , allowing the HSA to continue to grow tax-free. Your HSA can be another leg on the retirement planning stool. If a spouse is named as the beneficiary of the account, he or she can inherit the money tax-free. Click To Tweet. The Bottom Line.
Weekend Reading For Financial Planners (March 29–30)
Nerd's Eye View
MARCH 28, 2025
Also in industry news this week: A recent survey indicates that younger "DIY" investors are more likely to be interested in working with a human advisor than their older counterparts, suggesting an opportunity for advisors to tap into this demographic (perhaps by setting minimum planning fees that ensure these clients can be served profitably today (..)
8 Items That Can Be Crucial For Your Retirement Planning Checklist
Carson Wealth
MAY 29, 2025
Having a retirement planning checklist can help make this final commute the time of reflection and joy it should be. While you simply cant plan for everything, having the essentials in place can give you the confidence and clarity you need to enjoy the freedom retirement can provide.
Your Retirement Plan and Where You Live
Getting Your Financial Ducks In A Row
APRIL 3, 2023
We’ve covered a lot of ground with regard to how various tax laws impact your retirement plans: pensions, IRAs, 403(b) and 401(k) plans. But we’ve primarily focused on the US income tax laws (the IRS) affect your plans – and there are many nuances that you need to take into account with regard to state tax laws.
6 Signs It’s Time to Ditch DIY Retirement Planning
Carson Wealth
MARCH 28, 2024
Retirement planning is a journey that generally takes decades to complete and most of us start out along the do-it-yourself path. More than likely, your first step was to enroll in an employer-provided plan such as a 401(k) or setting up an individual retirement account, also known as an IRA.
The Best Time to Sell Your Stocks
A Wealth of Common Sense
MAY 29, 2025
We also touched on questions from our audience about holding stocks in your emergency fund, the best way to pay for home renovations, how teachers should factor pensions into their retirement plans and some of my favorite fiction book series.
Implementing Retirement Income Guardrails To Facilitate (The Right) Spending Raises And Spending Cuts
Nerd's Eye View
JANUARY 4, 2023
Financial advisors have a wide range of strategies at their disposal to create financial plans for their clients. And when it comes to retirement planning, one popular technique is the use of ‘guardrails’, which set an initial monthly withdrawal rate that can be later adjusted as the size of the client’s portfolio changes.
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How to Make Charitable Giving Part of Your Financial Plan
Carson Wealth
DECEMBER 20, 2024
You can move these large stock holdings to a DAF, get the tax break, and then use the money to make donations every year through your retirement. Donate Your Required Minimum Distributions If youre 73 or older, required minimum distributions (RMDs) are kicking in.
Making Sense of RMDs
Carson Wealth
MAY 15, 2025
Act have affected millions of Americans inheriting or leaving behind a retirement account. While required minimum distributions (RMDs) for the account owner are delayed, there is now a 10-year window for many people who inherit these accounts to take their distributions. The SECURE Act and SECURE 2.0
What if Dunning Kruger Explains Everything?
The Big Picture
FEBRUARY 27, 2023
equity valuations: “Baby-boomers’ huge flow of 401K plan contributions helped to drive equities higher; now that ~70 million Boomers are retiring, when do demographics flip this from a huge positive to a net drag?” aka The Hidden World of Failure ) (October 23, 2020) Stock Ownership : Distribution of Household Wealth in the U.S.
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Talk to older clients about the tax benefits of qualified charitable distributions
Million Dollar Round Table (MDRT)
APRIL 1, 2025
understand the value of qualified charitable distributions (QCD). Not only does this money count toward your required minimum distribution (RMD), but the donation is made tax-free, and the funds dont count toward your total taxable income. Note: This only applies to U.S.-based taxes.)
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SEP IRA for the Self-Employed: Tax & Retirement Planning for Small Business Owners
Darrow Wealth Management
SEPTEMBER 19, 2024
Unlike most types of retirement plans, the SEP IRA is funded by the employer. A SEP IRA (Simplified Employee Pension Individual Retirement Account) is a type of retirement plan specifically designed for self-employed individuals and small business owners. What is a SEP IRA?
The Latest In Financial #AdvisorTech (January 2024)
Nerd's Eye View
JANUARY 1, 2024
This month's edition kicks off with the news that held-away asset management platform Pontera has raised $60 million in venture capital funding as advisors increasingly seek to directly manage clients' 401(k) and other outside assets – although an ongoing investigation by Washington state regulators over whether advisors' use of Pontera violates (..)
Avoid the Overweight Retirement Plan
Getting Your Financial Ducks In A Row
NOVEMBER 7, 2022
When you have the bulk of your financial assets in retirement plans, you might accidentally expose yourself to some risks that you haven’t thought about… since retirement plan assets are much more likely to be impacted by changes to legislation – as we have seen in the past. No related posts.
Weekend Reading For Financial Planners (Dec 24-25)
Nerd's Eye View
DECEMBER 23, 2022
”, a series of measures that will have significant impacts on the world of retirement planning. Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that Congress appears poised to pass “SECURE Act 2.0”,
Weekend Reading For Financial Planners (Jan 14-15)
Nerd's Eye View
JANUARY 13, 2023
From there, we have several articles on retirement planning: The latest rules for 2023 Required Minimum Distributions from inherited retirement accounts. How reviewing and adjusting capital market assumptions can help advisors refine their use of Monte Carlo simulations.
Planning For Adoption: Understanding Different Pathways And Their Costs, Tax Breaks, And Financial Assistance Available
Nerd's Eye View
AUGUST 2, 2023
These include tapping employer-provided resources for adoption support, seeking out grants from charitable organizations, or, if funds are very tight, taking out loans or taking distributions from retirement plans (as the SECURE Act created a new opportunity for parents to withdraw up to $5,000 from their IRAs or employer-sponsored plans without the (..)
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Weekend Reading For Financial Planners (Nov 5-6)
Nerd's Eye View
NOVEMBER 4, 2022
From there, we have several articles on investment planning: While I Bonds have received significant attention during the past year, TIPS could be an attractive alternative for many client situations. A survey showing how millionaires allocate their assets and the importance they place on the recommendations of their financial advisors.
Establishing Solo 401(k) Plans For Self-Employed Workers: Options, Contribution Limits, Deadlines, And More!
Nerd's Eye View
NOVEMBER 23, 2022
Among the several different types of retirement plans that are available to self-employed workers, solo 401(k) plans can offer the most flexibility and the ability to contribute the highest amount of tax-advantaged savings.
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The Latest In Financial #AdvisorTech (May 2023)
Nerd's Eye View
MAY 1, 2023
Rowe Price has acquired Retiree Income, the parent company of popular retirement income planning software SSAnalyzer and Income Solver, to put its resources behind developing and distributing the company’s planning tools (albeit perhaps more to its retail and employee retirement plan clients than to advisors?).
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When is the Best Time for a Roth Conversion?
Darrow Wealth Management
APRIL 21, 2025
This approach typically provides greater benefits to those who have significant assets and high taxable income in retirement. Note: most beneficiaries who inherit a retirement account from a non-spouse can no longer ‘stretch’ the distributions over their lifetime. Instead, they have to take the funds in 10 years.
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Effective Implementation Of A Backdoor Roth Strategy: Detailed Nuances, IRS Form 8606 (And When It’s Even Worth Doing)
Nerd's Eye View
NOVEMBER 1, 2023
For instance, if the client has existing IRA dollars and/or if they plan to rollover funds from a qualified account at any point during the year, backdoor Roth conversions can be complicated significantly.
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The Best Way to Take Required Minimum Distributions (RMDs)
Darrow Wealth Management
OCTOBER 24, 2022
For example, what’s the best time of year to take required minimum distributions, how to reinvest it, or if you can avoid paying tax on RMDs. Here are some of the most common RMD questions and planning opportunities for investors. It’s called a qualified charitable distribution (QCD). Yes, you can reinvest your RMD.
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5 Common Retirement Planning Mistakes
Carson Wealth
JUNE 28, 2023
Your retirement income plan may be sending up bubbles, too, whether around Social Security, retirement account distributions, taxes or somewhere else – and these holes need to be patched up right away. So, to help your retirement plan be more airtight, let’s look at a few of the common leaks.
Secure Act 2.0 to Bring Sweeping Changes to Retirement Rules
Darrow Wealth Management
DECEMBER 23, 2022
Congress is once again poised to make sweeping changes to the retirement and tax rules in the last two weeks of the year. retirement changes. Raise the required minimum distribution age. Keep in mind, matching contributions are often voluntary so it would be up to the plan as to whether to adopt this provision.
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How to Build a Retirement Plan That Covers Your Healthcare Needs
WiserAdvisor
MAY 22, 2025
With medical inflation outpacing general inflation, ignoring healthcare in your retirement plan is a risk no one can afford. Factoring in retirement healthcare costs is a smart move. And if you are unsure where to begin, talking to a financial advisor can help you build a more personalized and realistic retirement plan.
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Required Minimum Distribution (RMD) Reminder
MainStreet Financial Planning
DECEMBER 8, 2022
We would like to take this opportunity to remind you about your annual Required Minimum Distribution (RMD). As you may know, the Internal Revenue Service (IRS) requires that you take an annual distribution from your retirement accounts starting with the year in which you turn 72 years old and every year thereafter.
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Retirement Planning: What Will Work Best for You?
Your Richest Life
APRIL 15, 2024
Do you have a plan in place for your retirement? For many people, the extent of their retirement planning includes signing up for the plan at work – which is often more of a starting point than a comprehensive retirement plan. You can use multiple accounts to help boost your savings.
Roth IRA vs Traditional IRA: Understand the Difference
Good Financial Cents
JANUARY 24, 2023
While they do share some similarities, there are enough distinct differences between the two where they can just as easily qualify as completely separate and distinct retirement plans. Either plan is an excellent choice, particularly if you’re not covered by an employer-sponsored retirement plan. Not exactly.
Reversing a Roth IRA Conversion
Harness Wealth
APRIL 16, 2025
Roth IRAs offer unique advantages including tax-free growth, no required minimum distributions during the owner’s lifetime, and potential tax benefits for heirs. This structure particularly benefits those expecting lower tax rates in retirement than during their working years. One of the Roth IRA’s most compelling features?
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3 Birthdays You Need to Know for Your Retirement Accounts
Integrity Financial Planning
OCTOBER 17, 2022
Know these 3 ages that can help you get the most out of your retirement accounts. At age 50, workers with certain qualified retirement plans can make annual “catch-up” contributions in addition to their normal contributions. Some 401(k) plans allow this, and others do not. Required Minimum Distributions at age 72.
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5 Ways to Catch Up on Retirement Planning Later in Life
Park Place Financial
NOVEMBER 29, 2022
Retirement Planning 5 Ways to Catch Up on Retirement Planning Later in Life Schedule a Complimentary Financial Review CLICK HERE TO SCHEDULE. Retirement is a significant investment, which is why so many financial experts recommend establishing goals and starting when still a younger adult. SIMPLE 401(ks) and IRAs
More reasons to keep on rolling (to an IRA, that is)
Getting Your Financial Ducks In A Row
MARCH 6, 2023
On the flip side, there are certain things that you can’t do in a 401(k) (or other Qualified Retirement Plan) that you can ONLY do with an IRA while you’re under age 59½. Of course you would have to pay tax on the distribution, but otherwise you can take the money from your IRA for these purposes.
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History of the Individual Retirement Arrangement (IRA history)
Getting Your Financial Ducks In A Row
OCTOBER 17, 2022
Two primary goals of the IRA were to provide a tax-advantaged retirement plan to employees of businesses that were unable to provide a pension plan; in addition, to provide a vehicle for preserving tax-deferred status of qualified plan assets at employment termination (rollovers).
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Microsoft’s 401(k) Retirement Plan Details
Cordant Wealth Partners
SEPTEMBER 8, 2022
The Microsoft 401(k) retirement plan offers many excellent choices among actively managed and index funds. According to a Longboard study titled “The Capitalism Distribution: Observations Of Individual Common Stock Returns, 1983 – 2006,” they found that: 39% of stocks were unprofitable investments 18.5%
Mega Backdoor Roths: A How-to Guide
Harness Wealth
JANUARY 9, 2025
Backdoor Roth 401(k) $23,000 ($30,500 if 50+) Allows conversion of 401(k) funds to Roth, increasing tax diversification Required Minimum Distributions apply. It also requires an individuals 401(k) plan to allow after-tax contributions and in-service withdrawals. Complex setup process.
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Retirement planning for women: Can future taxes actually ruin your goal?
Envision Wealth Planning
MARCH 24, 2022
Retirement planning for women can be trickier than most people may think. Most women I talk to are more concerned about paying less in taxes today than when they retire. Many people like the idea of paying less in taxes, But how does that relate to retirement planning for women and a financially free retirement?
The Most Important Factor You’re Probably Overlooking In Your Retirement Planning
WiserAdvisor
SEPTEMBER 13, 2023
While grappling with various aspects of retirement planning, it is imperative to acknowledge a critical factor that often does not receive its due attention – longevity risk. While this is undoubtedly positive, it introduces the challenge of ensuring that your financial resources last an extended retirement period.
How to Maximize Tax Deductions for the 2025 Filing Season
Harness Wealth
JANUARY 29, 2025
Qualified Charitable Distributions (QCDs) QCDs are direct transfers of funds from an individual retirement account (IRA) to a qualified charity. or older, QCDs offer a strategic way to contribute to charity while meeting required minimum distribution (RMD) obligations. What are Required Minimum Distributions?
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IRA Charitable Distributions – If You’re Less Than Age 70½
Getting Your Financial Ducks In A Row
APRIL 18, 2022
We discussed the IRA Qualified Charitable Distribution (QCD) option for folks age 70½ or better in other articles. First of all, even though the age for RMD has increased to 72, the age for Qualified Charitable Distributions remains at 70½, so don’t get these two confused. Photo credit: jb. If you’re under age 70½.
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Financial Fraud – Tips to Protect Yourself
The Chicago Financial Planner
AUGUST 24, 2021
Ask These 6 Questions Required Minimum Distributions - 7 Things You Need to Know Social Security and Working – What You Need to Know Retirement Plan Contribution Limits 2021 4 Things To Do When The Stock Market Drops Financial Fraud – Tips to Protect Yourself is a post from: The Chicago Financial Planner.
When Your Auntie Goes Off The Rails
Random Roger's Retirement Planning
OCTOBER 13, 2024
If WEEL sells puts on ETFs and not individual stocks as it appears then I don't think there could could be a catastrophic outcome like down 70% in a down 25% world but in trying to frame this out, down 30 or 35% in a down 25% world seems within a normal distribution of outcomes. People shouldn't put effort into retirement planning?
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