Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions
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There are many strategies to consider when it is time to take distributions from an IRA. In this visit we are going to cover two unique strategies that combine annuities with IRAs. Generally it is not a good idea to mix annuities and IRAs, because the annuity and IRA both have tax deferral. There often […]
Congress did IRA owners a favor by suspending most requir-ed minimum distribu-tions for 2009. Yet, the change has confused some IRA owners because there are some exceptions and not all the details are clear. There also are planning opportunities created by the law and by the markets IRA owners should consider. First, we will review […]
One point we emphasize regularly is the importance of the beneficiary designation form for IRAs, pensions, annuities, and a few other assets. The disposition of these assets is not influenced at all by your will or a trust. Only the beneficiary designation form on file with the IRA sponsor or other custodian of the assets […]
Congress and the IRS disappointed investors in late 2008. The steep decline in IRA values caused many investors to ask for a suspension or reduction in required minimum distributions from IRAs and other qualified retirement plans for those over age 70½. Congress did not act, and the IRS said it had no authority to suspend […]
What you don’t know about retirement can hurt you. In fact, just a few wrong decisions in your investments, taxes, or estate planning could completely derail your retirement plans. Worse yet, the rules of the game keep changing, making it harder to keep up. For these reasons, I’ve assembled all the key points – everything you need to know — into one comprehensive report. Click here today for free access.
Converting a traditional IRA to a Roth IRA has been a valuable tool to consider since the Roth was created in 1997. There are two reasons why a conversion is worth far more consideration now than in the past. First, a brief review of the basics. A Roth IRA has “back-ended tax benefits.” There are […]
The financial crisis continues to have secondary effects few people anticipated. Decisions are required, especially with regard to IRAs. Let’s take a look at the IRA: key questions and answers. Is there relief for IRA owners over age 70½ who have not yet taken their required minimum distributions for the year? IRA owners must take […]
Estate plans often go awry simply because beneficiaries were not aware of the actions they needed to take or that the estate owner wanted taken to fully implement the plan. IRAs are the assets beneficiaries are mostly like to handle poorly. In a recent IRS ruling, an IRA beneficiary avoided a tax disaster, but she […]
Many people own substantial IRAs and do a lot of their investing through IRAs. These investors might not realize some investments are prohibited from IRAs and others are allowed but incur tax penalties. This issue is more important in today’s climate, because “hard assets” and other nontraditional assets-those that are doing well today-are primarily those […]