Individual Retirement Accounts - IRAs
Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions
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August 2019 Newsletter
Find out about our latest recommendations, and all of the most recent market-moving news, in the newest issue of Retirement Watch that has just been completed. I invite you to download the issue as soon as you have a chance. As a valued subscriber, we want you to have this information as quickly as possible. […]
Congress Plans to Kill the Stretch IRA, But You Can Do An End-Around
We’re nearing a critical time for many Individual Retirement Account (IRA) owners. Advance IRA planning will be imperative if you want to maximize the after-tax value of your IRA for heirs and avoid the new tax burden Congress has in mind. As I explained last month, despite the deadlock and division in Washington, the Setting […]
How Conflicted Is Your IRA Advisor?
Government regulators believe that many financial advisors give bad advice about IRAs because the advisors have inherent conflicts. The main concern of regulators was what happens to an individual’s 401(k) account after leaving a job. The regulators concluded that too many advisors recommended that the 401(k) account be rolled over to an IRA, but that […]
The War on Stretch IRAs Is Back
There long has been a group in Congress determined to end the Stretch IRA, and this year they seem intent to have their way. I’ve reported in the past few years that many in Washington were targeting the Stretch IRA. The Obama administration called for an end to this valuable estate planning tool in its […]
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Roth IRAs Are Compelling Estate Planning Tools
Roth IRAs can be powerful additions to your estate plan, regardless of your age. Most people focus only on lifetime income taxes when discussing roth iras. Roth IRAs can be powerful tools that help meet your Estate Planning goals, leaving your heirs with more after-tax wealth. An IRA will be included in your estate whether […]
How to Have The Penalty For RMD Mistakes Waived
One of the stiffest penalties in the tax code is the one for not taking the correct required minimum distribution (RMD) from an IRA or other qualified retirement plan. You pay a whopping 50% of the amount that was supposed to be distributed but wasn’t. This penalty is in addition to paying income taxes on […]
How to Use Your IRA To Fund Your HSA
Health savings accounts (HSAs) are the best retirement planning tool available, but some people don’t know a legal trick to fully funding their HSAs. An HSA has three powerful tax benefits. Contributions to the account are tax deductible or excluded from gross income when an employer makes them. The account can be invested, and income […]
Why This Could Be A Good Time To Convert Your IRA
You should regularly revisit the decision of whether or not to convert a traditional IRA to a Roth IRA, and recent events have made this an ideal time to re-evaluate the decision. A major reason people don’t convert their IRAs is the cost. The converted amount has to be included in gross income as though […]
