Tax-free income in retirement isn’t the Roth account’s sole selling point.
The tax and retirement planning expert shares what you need to know about the 10-year rule for inherited IRAs, which kicks in for 2025.
If you think saving for retirement is complicated, try figuring out how to withdraw retirement funds while minimizing taxes.
“As much as 70 percent of your hard-earned retirement funds can be eaten up by income, estate and state taxes,” says IRA guru Ed Slott, author of the retirement-planning books “Fund Your Future: A Tax-Smart Savings Plan in Your 20s and 30s” and “The Retirement Savings Time Bomb Ticks Louder.”
In the wake of the SECURE Act, traditional IRAs have become the worst possible asset to own, IRA expert Ed Slott told advisors attending The American College’s Horizons conference in San Diego on Tuesday.
Slott and another widely regarded accounting expert, Jeff Levine, opened the event with a brief session entitled, “The Great Debate: Is The Traditional IRA Dead?,” with Slott arguing that that the primary asset accumulation vehicle for millions of Americans was a rotten investment.
The tax and retirement expert considers Roths to be a ‘Swiss Army knife’ for tax planning.
Ed Slott & Company Director of Retirement Education Sarah Brenner joins Wealth to share the top considerations for those preparing to retire.
The tax and retirement expert shares how to get organized and implement techniques for long-term tax savings.
Sometimes in an emergency you just have to break the glass.
While tapping a retirement plan for an early withdrawal should always be a last resort, it can be unavoidable. The cause could be a job loss, a natural disaster like a wildfire, or even an opportunity like a coveted house for sale.
While most provisions of the tax overhaul known as the Tax Cuts and Jobs Act are set to expire at the end of this year, there is one important exception in the domain of retirement planning — the elimination of the so-called Roth conversion “recharacterization” rules.
The tax and retirement expert discusses whether to expect an extension of the 2017 Tax Cuts and Jobs Act and strategies to benefit from low tax rates.
