The Slott Report was designed WAY back in 2010 to
educate financial professionals and consumers on the complexities of IRAs, taxes and retirement planning. We continue that mission each Thursday with our
Slott Report Mailbag. This week we answer your questions on company plan allowances (can you move the money after a certain age?), trusts and beneficiaries and RMDs (required minimum distributions).
As always, we stress the importance of working with a competent, educated financial advisor to keep your retirement nest egg safe and secure. Find one in your area at this link.1.I have approximately $400,000 in a 401(k) and will soon be 70 ½ years old. Is it possible for me to
IRAs are not only different, but the rules governing them can be difficult. The Slott Report Mailbag is here to wade through the intricate details and help consumers make the right choices for their retirement plans, and steer them to able, educated financial advisors who can help them fill in the blanks. This week we received questions on the once-per-year rollover rule, buying a building with your IRA, and what qualifies has a hardship distribution.
Summer is over, kids are returning to school and we are all getting back into a regular work schedule. Now is the best time to learn how to maximize your company-sponsored retirement plan. Ed Slott and Company IRA Technical Consultant Jeffrey Levine details 3 ways to maximize your retirement plan in this IRAtv video shown below.
Ed Slott, America's IRA Expert, details the IRA rollover rules and procedures so you can avoid needless taxes and penalties on your rollovers from employer plans (401(k)s for example) to IRAs or from one IRA to another IRA. Ed Slott takes you through the steps to IRA rollover success! View this IRAtv video below.
A friend of mine, who was paying college tuition for twins, once said to me that you should borrow for college expenses because you cannot borrow to pay retirement expenses. While this is true, the reality is that sometimes we may have to look at funding some of our children's higher education expenses from whatever assets we can find, including our retirement accounts.
Retirement planning is all about proper decision-making. In this week's Slott Report Mailbag, we answer your questions about important decisions, including who to name as a beneficiary, how to handle Roth IRA distributions and if a certain key tax break applies to a certain situation. Click to read a Q&A with our IRA Technical Consultant.
Over the past several years, as the U.S. economy has been struggling, more employees have turned to their company 401(k) plans for a quick source of cash by taking loans from their plan balance. Many 401(k)s offer a loan feature, in fact some plans make it so easy for employees to get a loan that they offer a 401(k) loan debit card!
Employer retirement plans such as 401(k)s and SIMPLE IRA plans offer a matching contribution to employees who choose to contribute. These plans provide that your employer will match some portion of the amount you contribute to your retirement account.
This week's Slott Report Mailbag delves into inherited IRA questions as well as a common situation involving required minimum distributions at age 70 ½. Click to read a Q&A with our IRA Technical Consultants.
Ed Slott, America's IRA Expert, talks about halftime in 2012 and the upcoming July 4th holiday as a backdrop for moving more of your money from FOREVER taxed to NEVER taxed while tax rates are at historic lows. Ed provides some key 2012 retirement planning strategies, including Roth IRAs and Roth 401(k)s
