Many retirees love to hate their required minimum distributions, which they have to take from their IRAs once they hit age 70 1/2.Joining me to discuss what, if anything, retirees can do to lower their RMDs is IRA expert Ed Slott.
If you are 59½ or older, and your account has been open for at least five years, you can withdraw earnings for any reason, tax- and penalty-free, explains Ed Slott, a CPA in Rockville Centre and author of “Ed Slott’s 2017 Retirement Decisions Guide.”
When the markets decline or are volatile, it is an opportunity to put a few retirement savings strategies to work, according to Ed Slott, founder of Ed Slott’s Elite IRA Advisor Group.
With Donald Trump claiming he wants to lower the top income tax rate, financial expert Ed Slott talks the potential changes in store, and what they could mean for you and your taxes.
Retirement expert Ed Slott on why companies are trying to stop employees from raiding their 401(k) investment.
"You control the money," said Ed Slott, founder of IRAhelp.com."You don't have to work for a company
Slott explains, “With a Roth IRA, the tax is paid up front (because you don’t receive a tax deduction) and the withdrawals in retirement can be tax-free.With a traditional IRA, you can get a tax deduction when the contribution is made, but every dollar earned will be taxed when it is distributed.”
Required minimum distributions can be confusing.Here are smart ways to go about it.
Required minimum distributions can be confusing.Here are smart ways to go about it.
