Why You Should Sign Up For Medicare When You Are 65
One of the most common questions asked by people approaching their mid 60’s is, “When do I have to sign up for Medicare?” For most people, the short answer is, “when you turn 65.” Here's why.
Tax Planning
Special Needs Trusts vs. ABLE Accounts – Which is Better?
ABLE (Achieve a Better Living Experience) accounts are a brand new type of tax-favored savings account created to benefit young disabled persons. One of the questions that has been asked with increasing frequency is, “Should I use a special needs trust or an ABLE account to safeguard my money [for my special needs beneficiary]?” We outline 5 key areas to consider, along with a brief description of whether an ABLE account or special needs trust gets the edge in that area.
How Retirees Can Fund an Education Savings Account with Their RMD
Are you retired and taking required minimum distributions (RMDs) from your traditional IRA? If you don't need the RMD money to live, there's a surprising suggestion that would help save for a child's education expenses.
How You Can Utilize an HSA Now to Save For Retirement
You may be familiar with Health Savings Accounts (HSAs). You probably know that these tax-advantaged accounts can be used to pay for medical expenses. However, you may not be aware that these accounts can be valuable retirement savings tools.
Fox Business Channel: Why Your Retirement Is At Risk
Your retirement is at risk - but it's not necessarily because of the reasons you might think. Ed Slott sat down with Fox Business Channel's Mornings with Maria to discuss why taxes are your retirement's public enemy No. 1. Some financial advisors don't know the ever-changing tax rules, others make IRA rollover mistakes that can wipe out a client's life savings and even others don't know how to deal with inherited IRAs and the pitfalls that can befall beneficiaries.
Why Your Retirement Account COULD Become A Lot More Valuable If Hillary Clinton Becomes President
Retirement accounts are already powerful savings vehicles. If Hillary Clinton becomes President, these floated tax plans paint a beneficial picture for your retirement account.
A Retirement Planning Provision Hidden in a Trade Bill
What does a trade bill have to do with retirement accounts? Well, buried deep inside one of the bills was a provision expanding the “Age 50 Exception” to the 10% early distribution penalty, beginning in 2016. Here's what you need to know.
The 10-Year Married Mark Provides These Social Security Benefits
Divorce is often an expensive endeavor, but sometimes there are steps you can take to minimize that pain. Take Ben Affleck and Jennifer Garner, for instance. This couple just hit the 10-year marriage mark, which brings these new retirement implications into play.
3 Retirement Loopholes Likely to Close
As we all know, there are many tips and tricks to maximizing the tax code in the short-term at tax time and in long-term with your retirement account. However, when a loophole is being used by "too many" and the government is losing out on lost revenue, it has a good chance of being closed. Reporter Liz Weston spoke to Ed Slott about 3 loopholes that are in danger.
Homer and Marge Simpson – Divorced? What Happens to Homer’s 401(k)?
This rumor of Marge and Homer Simpson's divorce made the rounds late last week. It was quickly countered. They are supposedly separating for only one episode. But how would a separation or a divorce affect Homer’s retirement assets?
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