Trusts as the Beneficiary and Inherited IRAs: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: Hello, I’m working with a retired client who has a sizable IRA. He set up a trust and named it as the beneficiary of the IRA, assuming that the trust would reduce or eliminate the income tax liability. Is this the...
Key change coming for 401(k) ‘max savers’ in 2025, expert says — here’s what you need to know
Key Points Many Americans face a retirement savings shortfall, but setting aside more could get easier for some older workers in 2025. Enacted in 2022, the Secure Act 2.0 ushered in several retirement system improvements, including higher 401(k) plan catch-up...
Turn Your Clocks Back, and Pay Attention to the Roth IRA Clocks
By Ian Berger, JD IRA Analyst Don’t forget to turn your clocks back this weekend! With that reminder comes another: pay attention to the Roth IRA distribution clocks. The key point to remember is that there are two different clocks, each used for a different purpose....
Weekly Market Commentary
-Darren Leavitt, CFA Global markets pulled back last week as investors took the opportunity to reduce some risk before a very close US Presidential election. In the US, nearly 20% of the S&P 500 reported earnings. Generally, results came in better than expected;...
3 IRA Tasks to Complete by the End of 2024
Sarah Brenner, JD Director of Retirement Education The year 2024 has flown by and the holidays season will soon be upon us. That means time is running out on year-end IRA deadlines. You will want to be sure to get the following three IRA-related tasks done...
What the Fed’s Rate Cut Means for You
The Federal Reserve just reduced interest rates for the first time in four years. Here’s how it will impact borrowers and saver What goes up must come down, and after four years, that’s finally true about interest rates. The Federal Reserve cut its benchmark rate on...
What the Fed’s Rate Cut Means for You
The Federal Reserve just reduced interest rates for the first time in four years. Here’s how it will impact borrowers and saver What goes up must come down, and after four years, that’s finally true about interest rates. The Federal Reserve cut its benchmark rate on...
The Zombie Rule
By Andy Ives, CFP®, AIF® IRA Analyst This article is NOT about the “ghost rule” applicable to non-living beneficiaries. That payout rule applies when a non-person beneficiary (like an estate) inherits an IRA when the original owner died on or after his required...
Nuances of NUA
We have written about the net unrealized appreciation (NUA) tax strategy many times. Generally, after a lump sum distribution from the plan, the NUA tactic enables an eligible person to pay long term capital gains (LTCG) tax on the growth of company stock that...
Weekly Market Commentary
-Darren Leavitt, CFA The S&P 500 and Dow Jones Industrial Average forged another set of all-time highs despite facing several macro headwinds. Chinese markets reopened after celebrating Golden Week with significant losses. Investors were expecting an announcement...
The 10-Year Rule and Required Minimum Distributions: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: Good afternoon, If a client passed this year with four adult children inheriting equally, and each beneficiary is using the 10-year rule, how do they determine yearly required minimum distribution (RMD)...
Tax Filing Relief and Retirement Account Withdrawal Options for Hurricane Victims
By Ian Berger, JD IRA Analyst Victims of Hurricane Helene have at least a glimmer of good news when it comes to their tax filings and ability to withdraw from their retirement accounts for disaster-related expenses. The IRS usually postpones certain tax deadlines for...
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