We get many questions from those nearing the RMD (required minimum distribution) age of 70 ½ who are still working. We put together a list of 7 frequently asked questions and our answers on this important IRA planning topic.
Still don’t know what to give the graduate in your life? If they have earned income for the year, give them a gift of a Roth IRA. Here's how to start the process.
This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, looks at lump sum distribution rules for pension plans and the possibility of investing Roth IRA funds in an annuity.
A balance sheet is one of the basic financial statements that can be useful in many situations. Unfortunately, when it comes to retirement accounts, balance sheets can be extremely misleading. How? We explain.
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?
This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, examines the 72(t) process and answers a question on the IRA distribution rules between the ages of 59 ½ and 70 ½.
Whether it’s in sports, with taxes or in life, we’re programmed to avoid penalties, and that’s usually a good move. Occasionally, however, by simply avoiding penalties, we can be detrimental to ourselves. Indeed, sometimes incurring a penalty on purpose can be the right move. If you don’t believe me, consider the following example.
The 5 biggest retirement mistakes - miscues that can cost those saving for and nearing retirement - have nothing to do with investing! I sat down with TheStreet.com to discuss what I believe are the five biggest retirement mistakes people make with their retirement accounts.
This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, delves into more common IRA questions. Can you put your future retirement home in your IRA? Can you make an IRA contribution for a deceased person in their year of death? When can you take money out of your Roth IRA? We have the answers below.
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.
