SECURE 2.0 Act Changes 401(k), IRA, Roth, Other Retirement Plan Rules
The SECURE 2.0 Act makes major changes to retirement savings plans. Here's what you need to know.
Tag: Retirement
10 Smart Steps to Minimize Taxes and Penalties on Your RMDs by Kimberly Lankford, Contributing Editor at Kiplinger
After you turn age 70½, you need to start taking required minimum distributions from your IRAs and 401(k)s every year. But the calculations and rules can be complicated, and you'll be hit with a penalty if you make a mistake.
4 Questions You Should Ask Your Prospective Financial Planner as seen in Forbes
Choosing to work with a financial planner is one of the biggest decisions many will face. The hard part is knowing what to look for in an advisor and firm.
Liz Weston: 3 Tasks for New Retirees That Will Pay Off Later
After a working lifetime of alarm clocks and meetings, you might be looking forward to a lot more unstructured time once you retire. But taking care of one more to-do list early on can set you up for a better retirement.
How Inflation Affects Financial Planning
…..Financial planning or creating a financial plan isn’t a one-time, transactional exercise. As you build a plan, there are a number of inputs that help to create the personal and financial circumstances for each client. As those factors evolve, whether in one’s control or not, it’s the ongoing monitoring and assessment of those factors that provide future confidence in the plan……
Can I Deduct My IRA on My Tax Return?
Is a contribution to an individual retirement account (IRA) tax-deductible? For many of us, the short answer is: You bet! That’s what IRAs are for. However, there are rules and limits.
Don't Let Coronavirus Derail Your Retirement
Focus on "Fee-Only" professionals who have earned the CFP® designation. They are paid for expertise, not for sales, and they offer comprehensive planning services. You can find candidates by searching…… napfa.org (the National Association of Personal Financial Advisors)…….
Year-End Financial Checklist to Prevent Tax Penalties and Missed Planning Opportunities
Several significant tax and savings deadlines are fast approaching. Before you flip your calendar to December, consider making some of these smart money moves.