Found 16 Articles.
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Most people know that after reaching age 70½, they have to take required minimum distributions (RMDs) from their IRAs. But that rule is only the tip of the iceberg. Not knowing all the RMD rules is a source of many mistakes, resulting in extra taxes and penalties. Required minimum distributions also must be taken from […]
Rollovers from 401(k) accounts are the main reason IRAs are among the most valuable assets many retirees own. When people leave a job, for either a new job or retirement, they often roll over the 401(k) balance to an IRA. To maximize the value of your IRAs in retirement, you need to maximize 401(k) account […]
Most people in retirement planning learn that age 70 1/2 is important. Here’ an article arguing that the year before is more of a benchmark. You have to start planning for the following years’ RMD, and it also means you’re approaching other key IRA milestones. Age 69 1/2 is a big deal, a major year […]
It’s another year, and many IRA owners have to focus on required minimum distributions (RMDs). The right strategy for these and other aspects of an IRA can make the account last longer. RMDs are mandatory after an owner is age 70 1/2. The rules apply to all qualified retirement plans, though we’ll focus on IRAs […]
Every general rule has its exceptions. IRAs are no different. The general rule for IRAs is to leave investments in them as long as possible. Your wealth will increase if income and gains are allowed to compound tax deferred as long as possible. We demonstrated that in the September 2003 discussion of which retirement accounts […]
Note: This article is an update of the article in the September 2001 Estate Watch and should be read together. Click here. You now can make your IRA last longer than ever. Thanks to final IRS regulations, account owners over age 70 1/2 are required to take less out of their IRAs or other qualified […]
It is not always a good idea to keep money in an IRA as long as possible. In most cases, it makes sense to let income and gains compound tax deferred for many years. But that can change as you get older. You might benefit by taking more money out of an IRA than you […]
The IRS recently created a tremendous opportunity to improve your financial and estate planning. In a surprise to everyone, the IRS in early January issued new rules for taking required minimum distributions (RMDs) from IRAs and other qualified retirement plans after age 70 1/2. The previous rules, described in detail in my Retirement Tax Guide, […]