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Take a look at elder care facilities. Go shopping for your “next home” – now.Timing: Many facilities have long waiting lists (up to 5 years). And in addition, usually you can “defer” 3 times. So, buy yourself some time and get the advantage by signing up today. Don’t be surprised if you are asked for a down payment with your waiting list application, it can be up to one month’s rent ($3000-$6000). This down payment would be deducted from your initial rent/expenses or refunded if you decided not to move into the facility. Also, take into consideration rising costs. Consider renting a one-bedroom +den vs. 2-bedroom if your cash-flow is limited. That $500/month difference can be significant when rent increases by 3-5%/year.

Client over contributed to 401k in 2015. Left employment in Jan 2016 and rolled 401k to IRA. The client can...

My client has $1MM 401k, of which $326K is in the Roth 401k account: $207K represents her after tax contributions...

This past summer the IRS had good news for those who missed the deadline for a 60-day retirement account rollover. The IRS will allow your late rollover to be accepted if you provide the receiving financial institution with a “self-certification.” The new relief procedure applies to 60-day rollovers from both company plans and IRAs. The IRS even provides a model letter that can be used. Self-certification is an immediate and cost-free fix for a missed rollover deadline. This new tool can potentially save you from taxes, penalties, and even the loss of your retirement savings.

I have a client who transferred his inherited IRA to us this year. He is 61 years old (born March...

Quick question – thanks in advance. If a person retires in April 2017, and has enough earned income to cover...

This week's Slott Report Mailbag looks into complications with QCDs, inherited IRAs overseas, and annuity distributions.

If I take an indirect rollover in Dec 2016 after I have already taken my 2016 total RMD, can I...

Is it possible to use a 60 day rollover of an IRA to “control” the RMD calculation for any given...

On a newly inherited Non spouse Traditional IRA, the beneficiary wants to figure her own RMD each year after having...