IRA

IRS Warns Seniors About RMDs and other accounts. Don’t give away money unnecessarily.

If you're a senior age 72 or 73 with qualified plans (401ks, IRAs, etc.) you are required to take RMDs (Required minimum distributions) or you could face significant IRS penalties. Get with your financial advisor or CPA before December 31st and take care of this.  Economic Ninja explains: https://www.youtube.com/watch?v=zSI2nDlZZdE

By |2023-12-23T19:45:01+00:00December 23rd, 2023|Money News, Protect your wealth, Retirement, Taxes, Watch and Listen|

Why should you start planning your retirement when you are young?

By Brian Swerdlow Even younger workers dream of the day when they are no longer bound to a work routine that can be unfulfilling and exhausting. Many Americans under 65 picture a day when they are free from the grind and can explore the world and pursue their passions. Unfortunately, as many younger Americans watch [...]

By |2023-09-24T00:08:23+00:00September 24th, 2023|Business Owners, Protect your wealth, Retirement|

Brian Swerdlow: Should you have a spousal IRA?

By Brian Swerdlow Individual Retirement Accounts (IRAs) have long been a favorite tool of financial planners. Unfortunately, though, IRAs usually require that an individual earns income before they can contribute. However, there's an exception to the requirement often overlooked by pre-retirees, called a spousal IRA. If you are married and building a retirement plan, you [...]

“ESG” investing is coming to a 401k or IRA near you. How will it affect your retirement?-Ken Reeves

"A new DOL ruling would ease existing restrictions on environmental, socially conscious investing by fund managers. Unfortunately, the track record for these funds is not that impressive so far." by Kenneth Reeves If you're like most Americans, the reasons you put money in your company's 401k or IRA are pretty straightforward. You want to grow [...]

By |2023-09-25T16:13:49+00:00December 9th, 2022|Investing, Money News, Retirement|

DOL Rule Greenlights ESG, But Questions Remain

Authored By Paul Mulholland/ The new final rule seeks to make ESG permissible for ERISA plans, but specific use will still need to play out, according to ERISA attorneys. Contributed by Kenneth Reeves The Department of Labor announced the final rule on ESG investment in ERISA-governed plans Tuesday, solidifying long-awaited permission to use environmental, social and governance analysis [...]

By |2022-12-09T20:31:08+00:00December 6th, 2022|Money News|

Eric Coons: What is a “backdoor” Roth IRA and who benfits from having one?

By Eric Coons   Roth IRAs arrived as a retirement savings option in 1998 to great critical acclaim. Financial professionals lauded the tax-deferred growth and tax-free earnings withdrawals of Roths. Another popular feature of these accounts was that they were not subject to required minimum distributions (RMDs.) Initially, Roths weren't that widely available. There were [...]

By |2022-12-16T06:24:38+00:00October 2nd, 2022|Investing, Money News, Protect your wealth, Retirement|
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