Moving Your Roth IRA to another Roth IRA
If you have a Roth IRA, you may want to move that money to another Roth IRA elsewhere. There are two ways to move Roth IRA money to another Roth IRA - we detail them below.
IRAs
Using the Internet as Your Financial Planner
The Internet is a great thing. You can probably find any piece of information you want somewhere out there. It is only a matter of asking the right question. My mother thinks I look everything up on the Internet. However, along with great information available on the worldwide web, there is a lot of misinformation. Some things are just plain wrong and some are very misleading. The Internet is no substitute for expert financial and retirement planning advice - as a recent bankruptcy court case proves.
5 Facts About the April 1 Required Beginning Date
It might sound hard to believe, but amazingly enough, we are just a few days away from the start of April. Its first day, Monday, April 1st, is known as April Fool’s Day to many, but to those in the retirement world, it’s better known as the required beginning date. Unfortunately, this date often causes a great deal of confusion for pre- and post-retirees, so with that in mind, below we explore 5 key facts you need to know about the April 1st deadline. Make sure you know these rules well, or come April Fool’s Day, the joke might be on you.
Using a Power of Attorney for an IRA
If you are elderly, or your parents are elderly and you help them with their finances, you should consider getting a Power or Attorney (POA). A POA lets you name or appoint someone to handle important legal and financial issues for you, either now or in the future if you are unable to make decisions for yourself. A POA can also be used to manage or make decisions related to your IRAs.
Special IRA Distribution Tax Break for Miltiary Reservists
Certain retirement plan distributions, known as Qualified Reservist Distributions (QRDs) qualify for special tax breaks. The retirement plan distribution must come from an IRA or from amounts that were contributed as salary deferrals under a 401(k), 403(b) plan or a similar plan.
IRA Roundtable: Talking New Tax Laws, Tax Time Planning Strategies
Ed Slott and Company is spending two full days talking about the new tax laws, IRAs, retirement distribution planning and more during our 2-Day IRA Workshop starting tomorrow in Orlando. We took some time in the video below to talk about the new tax laws (American Taxpayer Relief Act of 2012) and key planning strategies and dates clients and their tax team should be aware of when filing their 2012 tax returns.
Join America’s IRA Experts Next Week in Orlando!
Over 100 of the nation's top financial advisors will be at the Hyatt Regency Orlando International Airport Hotel next Monday and Tuesday, March 11-12, for Ed Slott's 2-Day IRA Workshop, Instant IRA Success.
Congress’ Retirement Benefits: With Low Approval Ratings, Are They Worth It?
As I was looking for information on pension plans for our U.S. presidents, I came across information on pension plans for members of Congress, the group of individuals we elect to set tax and spending policies for our government. The same group of individuals who miss crucial deadlines for setting policies time after time after time. The same group that gives us phased-in provisions in legislation, temporary provisions that expire or are supposed to expire but get renewed over and over again.
Comparing a Former U.S. President’s Pension to YOURS
Prior to 1958, the U.S. did not provide a pension for its former presidents. George Washington retired to Mount Vernon where he resumed his role as a plantation owner/farmer. Abraham Lincoln did not live to collect a pension. His wife, Mary Todd Lincoln, petitioned Congress for a widow's pension in 1870, five years after Lincoln's death. She was awarded the sum of $3,000 a year.
IRAs and Social Security: Fact or Fiction?
Social Security has been a popular topic of conversation among current and soon-to-be retirees as well as Washington lawmakers as Congress tries to deal with a major deficit issue. Below we talk about some of the ties between IRAs and Social Security as well as some of the misconceptions.
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