The SECURE Act was passed into law on December 19, 2019 and with it came some big changes to the required minimum distribution (“RMD”) requirements from IRA’s and retirement plans. Prior to December 31, 2019, individuals were required to begin taking mandatory...
The SECURE Act was signed into law on December 19, 2019 and with it comes some very important changes to the options that are available to non-spouse beneficiaries of IRA’s, 401(k), 403(b), and other types of retirement accounts starting in 2020. ...
Understanding Required Minimum Distributions & Advanced Tax Strategies For RMD’s A required minimum distribution (RMD) is the amount that the IRS requires you to take out of your retirement account each year when you hit a certain age or when you...
Beware of the 5 Year Rule for Your Roth Assets Being able to save money in a Roth account, whether in a company retirement plan or an IRA, has great benefits. You invest money, hopefully that money grows, and when you use it during retirement you don’t pay...
We have a lot of parents that ask us if they are allowed to establish a Roth IRA on behalf of their son or daughter. You can, as long as they have earned income. This can be a very powerful wealth accumulate strategy for your children since all of the accumulation...
If your spouse passes away and they had either an IRA, 401(k), 403(b), or some other type of employer sponsored retirement account, you will have to determine which distribution option is the right one for you. There are deadlines that you will need to be...
