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Form 8606 and the Pro-Rata Rule: Not the End of the World
By Andy Ives, CFP®, AIF® IRA Analyst If a person has after-tax (non-deductible) money in any traditional IRA, SEP or SIMPLE IRA, then the pro-rata rule is just something that needs to be dealt with....
The Retirement Mistake Nobody Talks About: Having a Plan But Never Updating It
Many Americans spend years preparing for retirement. They contribute to their 401(k)s, open IRAs, purchase insurance, and work diligently to build their nest egg. Yet one of the biggest mistakes...
Accessing 401(k) Funds While You’re Still Working
By Ian Berger, JD IRA Analyst If you are faced with expenses that require you to tap into your savings, what are your options? You should always look to non-retirement savings first. Dipping into...
Weekly Market Commentary
It was a hectic week on Wall Street as investors contended with heightened tensions in the Middle East, awaited the largest IPO in history, and received elevated inflation readings. The US and Iran...
Children vs. Grandchildren Beneficiaries and the First Required Minimum Distribution Year: Today’s Slott Report Mailbag
By Ian Berger, JD IRA Analyst Question: Are the rules for a grandchild who inherits an IRA the same as the rules for a child who inherits? Thank you, Steven Answer: Hi Steven, No, the rules are very...
Mid-Year Financial Checkup: Why June Is the Perfect Time to Reassess Your Financial Plan
As we reach the halfway point of the year, many people take stock of their health, careers, and personal goals—but often overlook one of the most important areas of their lives: their finances. Just...
3 IRA Tax Breaks for Same-Sex Couples
By Sarah Brenner, JD Director of Retirement Education June is PRIDE Month. June also marks the anniversary of the landmark Supreme Court case Obergefell v. Hodges, which legalized same-sex marriage....
Roth IRA Conversions Do Not Count for Roth IRA Contribution Eligibility
By Andy Ives, CFP®, AIF® IRA Analyst If a person wants to make a Roth IRA contribution, there are two primary hurdles to get over. First, a person must have taxable compensation to make the...
Weekly Market Commentary
The S&P 500 was unable to make it a 10th straight week of gains as the market pulled back sharply late in the week amid a sense that the AI trade may have gone too far, too fast. Technology...
The Once-Per-Year IRA Rollover Rule and 529-to-Roth Transfers: Today’s Slott Report Mailbag
By Sarah Brenner, JD Director of Retirement Education Question: Hello, Last December 15, I withdrew $10,000 from my traditional IRA. Thirty days later, I deposited $4,000 in a Roth IRA and $6,000...
Retirement Isn’t Just About Saving Money—It’s About Creating Income You Can Count On
For many Americans, retirement planning begins with one simple question: "How much money do I need to retire?" While building savings is important, a more critical question is often overlooked: "How...
What in the World is Modified Adjusted Income (MAGI), and Why Does It Matter?
By Ian Berger, JD IRA Analyst Some of you may have come across the term “modified adjusted gross income” (MAGI) and figured it has something to do with “adjusted gross income” (AGI). But,...
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