Categories: Investing Retirement Planning Financial Planning Market Commentaries College Planning Identity Theft Archive
The SECURE Act, effective January 1, 2020, has ended the Stretch IRA for most adult non-spouse beneficiaries.
There are benefits to both the traditional 401k contribution and the Roth 401k contribution. The Roth contribution may be the most under-appreciated investing opportunity for the American taxpayer.
Yes, there is a way to designate a beneficiary on a non-IRA account and it is called a Transfer on Death agreement or TOD. Some financial institutions use the term Payable on Death or POD.
There are many mistakes that can be made when withdrawing money from retirement accounts. I call them Too Soon, Too Late, Too Little, and Too Much. Any of these violations can result in penalties in addition to taxes.
This is a critical decision and usually one that cannot be changed once recorded.
Because of the sensitive tax laws that come with a Traditional IRA it is very important that you know the rules and protect your IRA for yourself and your family.