Individual Retirement Accounts - IRAs
Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions
Found 395 Articles.
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Putting RMDs Back in Your Plan
Required minimum distributions (RMDs) from traditional IRAs were suspended only for calendar year 2009. Congress did not extend the suspension, and doesn’t appear to have any interest in extending it. You must return to pre-2009 rules and take RMDs in 2010. The first RMD is due by April 1 of the year after you turn […]
More Planning Tips for IRA Conversions
We covered a lot of ground on IRA conversions in recent visits. We’ve been thorough but there are a few more angles that you should consider before deciding whether to convert a traditional IRA to a Roth IRA. Early is Best You can convert your traditional IRA to a Roth IRA any time during the […]
Knowing When to Convert an IRA
Should you convert a traditional IRA to a Roth IRA? How do you decide? The answer is not the same for every IRA owner. The strategy that puts the most after-tax wealth in your pocket is determined by several variables. Is your tax rate higher or lower now than it will be in retirement? How […]
Scrutinizing Your IRA Custodian
Few IRA owners give much thought to their custodians. Yet, the custodian can make or break your financial plan, and all custodians are not equal. Take a few minutes to learn about your custodian and its policies. Your IRA must be held by a custodian or trustee. Most financial services companies serve as custodians: brokers, […]
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More Lowdown on Roth IRA Conversions
The Roth IRA conversion opportunity is getting closer. Last month we discussed the basics of the opportunity and who should consider taking advantage of it. We continue the discussion in this visit with more details about the rules and ways you can enhance the benefits. To review from last month, next year the income limit […]
Returning Unwanted 2009 RMDs
Late in 2008, Congress suspended required minimum distributions for IRAs for 2009. If you are over age 70½, you don’t have to take an RMD for 2009. Some people did not receive word of the suspension before they took their RMDs in early 2009. Others had periodic distributions scheduled, and the distributions could not be […]
Preparing for the Roth IRA Opportunity
In 2010 all taxpayers will have the opportunity to create a tax-free stream of retirement income by converting traditional IRAs into Roth IRAs – and can receive a tax incentive to convert. Most Baby Boomers aren’t even aware of the upcoming conversion opportunity, and only a minority plan to convert, according to recent surveys. That’s […]
Understanding the 10% Penalty and Roth IRAs
One of the more confusing aspects of Roth IRAs is the 10% penalty for early distributions. The penalty is different for regular Roth IRAs and converted Roths. Tax-free distributions from Roths might be penalized. Don’t confuse the rules on taxes with the penalty. The same penalty and exceptions apply to traditional and Roth IRAs, unless […]
