Retirement Watch Weekly
Why You Should Make Charitable Contributions from Your IRA
Congress finally delivered good news to individual retirement account (IRA) owners late in 2015. The Protecting Americans from Tax Hikes Act of 2015 (PATH) made permanent the qualified charitable distribution (QCD) from IRAs for taxpayers ages 70½ and older. The QCD, one of the best ways to make charitable gifts, has been in and out […]
Estate Planning for Your Collectibles and Treasures
One of the most difficult problems in Estate Planning is determining how to handle personal collections and similar special assets. Often the owner has devoted more than money to these assets. The collection is a special interest that consumed much time and attention, and there probably is an emotional investment as well. The owner had […]
The Little-Known Estate Planning Advantages of Revocable Trusts
Many estate planners recommend revocable Living Trusts to their clients. Often simply called living trusts, the tool has been around for centuries. Despite its longevity, many people don’t realize the many advantages of using living trusts in their estate plans. Usually living trusts are recommended as a way to avoid probate, and they are one […]
Deflationary Forces Abate in the Midst of Mixed Economic News
Consider joining me for my presentation to the Washington, D.C., chapter of the American Association of Individual Investors (AAII) on June 18at the Richard J. Ernst Community Cultural Center on the Annandale campus of Northern Virginia Community College, 8333 Little River Turnpike, Annandale, VA. Registration begins at 9:00 a.m. and the program starts at 9:30 […]
Estate Planning Strategies for Navigating the Kiddie Tax
Shifting assets and income to your children and grandchildren can provide many benefits, including tax benefits. That’s why Congress set up hurdles to keep you from enjoying all the potential tax benefits. When planning gifts of investments to your loved ones, be aware of the kiddie tax. This tax was created in 1986 to reduce […]
The Key, Overlooked Retirement Spending Expense
A major retirement expense is overlooked or downplayed in most retirement planning. It is one of the largest expenses in the budgets of those 65 and older, yet it is taken for granted by both individuals and many financial professionals. Transportation accounts for 16% of annual spending by Americans 65 and older, according to the […]
Building Your Long-Term Care Plan
The cost of long-term care is one of the major retirement financial worries. Survey after survey confirms that. The data also confirm that few people do anything about long-term care, other than worry. One survey even found that many people would rather go to the dentist than talk to someone about LTC. That needn’t be […]
2016: A Good Year to Convert IRAs?
This could be the best year in a while to maximize the benefits of converting a traditional IRA to a Roth IRA. Even if it didn’t seem to make sense in the past, it might in 2016. You know the benefits of a Roth IRA. There are no income taxes on the IRA’s earnings or […]
