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Question: I am retired and turned 72 in September, 2021, so I must begin required beginning distributions (RMDs) by April, 2022. I have traditional and Roth IRAs as well as a defined contribution plan with a former employer. I understand I must withdraw my RMD before withdrawing an amount for anything else (e.g., Roth conversion) from both my traditional IRA and my defined contribution plan. But is that requirement limited to withdrawals within each type of plan (IRA and defined contribution)?

Have a client that has approx $4 mil in mostly qualified dollars, 3/4 in IRAs. He is in a 2nd...

Facts: The Thrift Savings Plan 401 type retirement plan for FERS Federal employees (and CSRS employees) electronically transferred entire balance...

As you approach your golden years, you may be looking to simplify your life to wring the most out of retirement. It may be time to right size and move from a larger house with an abundance of maintenance to a smaller space that is easier to manage. It may also be time to declutter and organize years of belongings. Make a new start. Retirement accounts should not be overlooked as part of this process. Consolidating these accounts can go a long way towards simplifying life.

My BIL has a Traditional 401(k) & does not have any Roth accounts. He is 61 and planning to retire...

Congress has set its sights on mega-IRA balances, in large part due to the recent reports about Peter Thiel’s $5 billion...

Question: Dear Ed Slott and Company, I am a longtime subscriber, having met and talked with Ed at several industry conferences, going back well over 20 years. Which, with all of Ed’s great work and active networking, puts me in a pretty big club! In any event, a CPA has turned to me with a problem. A client of his passed away earlier this year with $1.7M in her IRA. Her Estate was the beneficiary of the IRA. Her 80+ year old siblings are the beneficiaries of the estate. I know, not great facts. But, it gets worse.

There is an entry in the page 262 Table in Ed Slott’s NEW Retirement Savings Time Bomb book that I...

When it comes to taxes and the 10% early distribution penalty, do not allow the underlying investments within a Traditional IRA to confuse what is applicable. Earnings within an IRA are just earnings. It does not matter if those earnings come from appreciation, capital gains, dividends, rents, annuity income, interest, or really any other form of growth. If it happens within the IRA, it is essentially just “earnings.”

Client inherited IRA from Uncle many years ago. One of the companies we have her in, continues to take her...