Giving another person the ability to make significant financial decisions and/or take actions on your behalf is not an easy thing to do. That said, various situations may arise where you no longer want to, or are able to, manage your own finances. In such cases, you want to make sure someone else can act on your behalf. We lay out 3 questions to ask when preparing a power of attorney for an IRA.
A taxpayer was recently given bad advice by his CPA of two decades. In a just released private letter ruling (PLR), "Tom" was given an extension to complete an IRA rollover due to advisor error. Don't make this same mistake.
Paying for college is challenging enough. Paying for college while saving for retirement can be nearly impossible. There is only so much money to go around. Roth IRAs can be a great way to bridge the gap between paying for college and saving for your own retirement. But be careful to avoid this trap that could cost you in lost financial aid dollars.
Young savers are impressionable. They read an article on a credible website and think it's full of actionable ideas they should start implementing. However, young savers, please don't follow James Altucher's advice on 401(k) planning. Here's why.
Who is answering the phone when you call an 800 number with a question about your employer plan? In many cases it is a “retirement education specialist.” I recently saw an ad for this position. Here is what the retirement education specialist is responsible for.
We were recently asked whether you can use your IRA to buy health insurance. The short answer to that question is yes, but it will cost you. We explain the tax and penalty implications and possible exceptions for which you may qualify.
Deciding the best time to claim your Social Security benefits is an intensely personal decision that can have a truly significant impact on your overall retirement security. In general, you can begin collecting reduced retirement benefits as early as age 62. But a new study reveals that many more people are waiting longer.
Mother’s Day 2015 is over, but you can help the moms in your life get ready for retirement every day. Women typically earn less than men for the same job and have fewer years in the workforce. That makes it all the more important for women to use every opportunity they have to save for retirement. Here are five ways you can help.
A new report from the Treasury Inspector General for Tax Administration (TIGTA) found that IRS hasn't done enough to address the problem of excess IRA contributions. What is an excess IRA contribution and how do you fix it?
MyRAs are a retirement savings option for those who do not have a retirement plan at work or those who want to save only small amounts from their paychecks. IRA Technical Expert Beverly DeVeny discusses their benefits.
