Retirement Watch Weekly
Bob’s Journal for 12/24
This 2020 Holiday Season Will Be Different But Not the Worst This 2020 holiday season will be different for Elaine and me, as I’m sure it will be for you. While we have been healthy, our traditions have been shattered. We will have a small Christmas dinner with another couple in the neighborhood who we […]
Is It Time To Re-Think Your Post-Election Retirement Plan?
The 2020 election is over, and not much changed. Not much will change for at least several months. After major elections, regardless of the results, I urge my readers not to overhaul their retirement plans and portfolios in response to the election. Too often, I hear ”experts” advising investors to make significant changes because of […]
The Economy Slows, But Powers Through the Headwinds
Economic growth slowed in recent months, and much of the economy still is at depressed levels. Yet, the economy is doing better than expected. The big question for me has been how well the economy would hold up once the fiscal stimulus began winding down after July. While the rate of growth slowed substantially, the […]
Tax-Wise Ways to Handle the Second Home or Vacation Home
Most owners of second homes leave a lot of money on the table, especially when it is time to sell the house or pass it on to the next generation of owners. There are three basic choices for transferring ownership of the second home, but the details of each option are flexible. Most vacation homes […]
How the Pandemic Is Changing Long-Term Care and What to Do About It
The COVID-19 pandemic has changed long-term care (LTC). Chang-es will continue even after effective vaccines are widely administered. You need to adjust your long-term care (LTC) plans in response to these changes. The most serious consequences of COVID-19 were concentrated among older Americans, and those residing in long-term care facilities fared the worst. A study […]
IRS Reduces Future Required Minimum Distributions Just A Little
The IRS recently issued final regulations that, in the future, will reduce required minimum distributions (RMDs) on IRAs, other qualified retirement plans and annuities. It is a small help for retirement account owners who don’t need all the money they’re required to take from their plans each year. Most owners of IRAs and other qualified […]
What Happens to an IRA After the Beneficiary Dies?
One of the unanswered questions in many estate plans is what happens to an IRA after an initial beneficiary passes away. First, let’s clear up some confusion about some IRA terms. A beneficiary is a person who benefits from, or inherits, an IRA after the original owner passes away. A primary beneficiary is named as […]
Mistakes IRA Beneficiaries Are Making After the SECURE Act
A year has passed since the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed Congress by a wide margin. Yet, many IRA beneficiaries don’t know about the law or are receiving bad information about it. The SECURE Act made a major change for individual retirement arrangement (IRA) beneficiaries. Previously, someone who inherited an […]
