Avoid Double Trouble by Fixing 2024 Excess 401(k) Deferrals by April 15
By Ian Berger, JD IRA Analyst Everyone knows that April 15, 2025, is the deadline for filing 2024 income tax returns. But April 15 is also a crucial deadline if you made too many 401(k) deferrals in 2024. If you don’t fix the error by that date, the tax consequences...
How Roth IRA Distributions Are Taxed
By Sarah Brenner, JD Director of Retirement Education Do you have a Roth IRA? If you do, there will very likely come a time when you want to take a distribution from that account. The distribution rules for taxation of Roth IRA distributions can be complicated,...
Weekly Market Commentary
-Darren Leavitt, CFA Economic growth concerns weighed on US financial markets as manic trade policy fostered uncertainty and volatility. It was a hectic week as investors tried to make sense of Trump’s tariffs on Canada, Mexico, and China. The announcement that...
Roth Conversions: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hello, If a person is turning 73 years old in March, s/he would be required to take required minimum distributions for the year. Can a person do Roth Conversion prior to turning age 73 (say in February)? Does the...
How an annuity can help as you plan for retirement
As you approach retirement, you may be wondering what are the next steps for your investments. An annuity may be an effective tool for you in retirement planning by providing a steady and reliable income stream. With 2024 being the year with the greatest number of...
RMD Avoidance: Red Flags and Dead Ends
By Andy Ives, CFP®, AIF® IRA Analyst I appreciate it when reputable financial advisors fight for their clients. It is a pleasure to see a well-educated, experienced professional leave no stone unturned when it comes to helping someone through a problematic...
Deciphering the Rules for Roth 401(k)-to-Roth IRA Rollovers
By Ian Berger, JD IRA Analyst More and more 401(k) plans are making Roth employee contributions available, and employees leaving their jobs often want to roll over Roth 401(k) funds to a Roth IRA. What tax rules apply to distributions of amounts rolled over? Warning:...
Weekly Market Commentary
-Darren Leavitt, CFA Growth concerns entered the market narrative as investors continued to look at policy uncertainties on tariffs and the strains on geopolitical relations. The Trump administration confirmed that 25% tariffs on Canada and Mexico would be effective...
9 Ways Retirement Will Be Different in 2025
How changes in Social Security, Medicare, 401(k) contributions and more will affect your finances Retirement is not static. Even when the kids are gone and the career is done, your lifestyle and expectations are constantly evolving. So are your finances. Areas key to...
Roth IRA Distributions and Eligible Designated Beneficiaries: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: I opened my first Roth IRA in 2017 and a second Roth IRA in December 2021. My current age is 71. I withdrew some funds from these accounts last year. For tax year 2024, I received a 2024 Form 1099-R for the 2017...
Watch Out for the Once-Per-Year Rollover Rule
By Sarah Brenner, JD Director of Retirement Education Why is it so important to know how the “once-per-year rollover rule” works? Well, that’s because trouble with the once-per year rule is the kind of trouble no one wants! If you violate this rule, you are looking at...
IRA Transactions: Detours and Alternate Routes
By Andy Ives, CFP®, AIF® IRA Analyst Sometimes we get stuck in traffic, or a highway is closed, and we are forced to find an alternate route. I’m not talking about driving across someone’s front yard or going the wrong way on a one-way street. Think side roads and...
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