If you own an IRA and you’re approaching age 70 ½, you’ll be forced one day soon to take an RMD. What is an RMD? It’s a Required Mandatory Distribution, and it’s one of the most important IRA rules there are. In other words, the government will force you to start taking money out of [...]
If you are thinking about retirement, one of your biggest questions is how to make sure your nest egg lasts as long as you do. Even if you aren’t going to retire for another 10 years, you might be worrying about being behind schedule on the savings front. Two steep market declines over the last [...]
If you own an Inherited IRA, you have required beneficiary IRA distributions you must take. It doesn’t matter how old you are. And sadly, it doesn’t even matter if you need or want the money. The IRS boys want you to take your distributions starting the year after you inherit the account. (Read “IRA Beneficiary [...]
You may not believe it, but the courts can and do set aside your 401k beneficiary form under certain circumstances. That’s right. 401k beneficiary rules are vastly different from IRA beneficiary rules. I have to admit that this came as a shock to me but it is actually true. Let me share with you a [...]
People often skip over planning for Social Security benefits eligibility while they are working. That’s because we’re all busy investing for retirement and it’s easy to forget one of the most important elements of retirement planning. Social Security has for decades been one of the primary sources of retirement income for tens of millions of [...]
If you are a retiree, you need different investment solutions compared to people who are still working. My experience tells me that this is so for two reasons. First, a retiree usually can’t add to her retirement nest egg. Once she stops working, that’s all she’s going to ever have. As a result, she is [...]
If you participate in a 401k you should be aware of 401k fees. Many people think that there are no fees associated with a 401k and that’s a very costly mistake. I say that because, in most cases 401k plans are extremely expensive. But that isn’t even the biggest problem. The biggest problem is that [...]
If you’re planning your retirement, you might be wondering what the maximum Social Security benefit is. When preparing for retirement, most people are closely focused on the performance and projections for their retirement investment accounts. But equally important is having an approximate estimate of benefits from Social Security—another crucial leg of the retirement planning platform. [...]
How do you know when you need a financial planner, a money manager or either one? If you are considering hiring a financial advisor or money manager, it’s important to know the what the duties are of each. Financial advisors often wear many hats while money managers usually wear only one. Financial advisors, at their [...]
If you’re about to call it a career, the last thing you want sent your way are retirement problems. You spent years socking away your hard-earned cash, so you better be sure it’s there for you when you need it. Besides employer fraud, there are several retirement program pitfalls you need to avoid. Here are [...]
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