This week's Slott Report Mailbag covers some common questions we receive each week. One question deals with the date of a person's first required minimum distribution (RMD), another with a family member using their IRA to purchase their son's mortgage and a third on combining an inherited IRA with an individual's own IRA.
We now turn our focus from the election (although the issues remain) to year-end financial planning and helping both consumers and financial advisors obtain the expert information they need to come together and form a perfect retirement team. This week's Slott Report Mailbag includes questions (and our answers) on inherited IRAs and tax forms and a 3-part question on the Roth conversion process.
This week's Slott Report Mailbag comes to you live from the Arizona Biltmore Resort and Spa and our Fall 2012 Master Elite and Elite IRA Advisor Group Workshop. We answer questions about rolling before-tax and/or after-tax money to an IRA, non-governmental 457(b) plans and rolling money to an IRA during bankruptcy.
This week's Slott Report Mailbag comes during an important time. The election is less than two weeks away, and we have devoted an entire week to covering the IRA, tax and retirement planning issues you care about. This week's mailbag includes questions on life insurance, using Roth IRA funds for a first-time home purchase and how to take the required minimum distribution (RMD) for a deceased parent in the year of death.
This week's
Slott Report Mailbag shows that retirement planning involving IRAs can be complicated, and consumers just like you are confused about the rules and concerned they are making fatal, penalty-induced errors.
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.Dear Mr. Slott,I am and have been an avid follower of your programs on public television and have purchased your books as well as CD/DVDs. I respect your opinion very much and badly need your help. I have been disabled since 2008 due to an aortic dissection and will be turning 65 in December 2012.
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
This week's Slott Report Mailbag includes questions on whether an employer plan allows for distributions and rollovers when an employee stops working for that employer, how to compute the taxes on an IRA and an inherited IRA and whether or not a disabled individual can take an IRA distribution before a certain age.
This week's Slott Report Mailbag comes LIVE from The Cosmopolitan in Las Vegas as we get ready for Ed Slott's 2-Day IRA Workshop this Saturday and Sunday. We answered questions on Roth conversions, the Roth IRA 5-year rules, and where an IRA goes at your death.
As crisp temperatures and autumn colors cascade through our neighborhoods, people start eying year-end IRA and tax planning. We saw it in this week's Slott Report Mailbag with questions about a Roth conversion and paying the tax associated with it, distributions from inherited IRAs and the rules regarding what you can and can't do with RMDs (required minimum distributions).
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.
