There’s a lot of great information available on the Internet. There’s also a lot of misinformation. Some advice is misleading, and some is just plain wrong. The Internet is no substitute for expert financial and retirement planning advice.
Tick, tock, tick, tock. 2017 is almost here, and here are a few more important points to remember if you are still sorting through year-end retirement planning.
Preparing for retirement is like nearing the finish line in a marathon: after so long, the end is finally in sight. In fact, that finish line is really the starting line in a different race—and in order to run it successfully, you have to plan for it.
Hurricane Sandy did considerable damage in the Northeast part of the United States. As a result, the IRS issued several news releases describing the postponement of IRA and other retirement plan deadlines for victims affected by Hurricane Sandy.
Are you overlooking the must-do task of protecting your identity? Long gone are the days when taking steps to protect your identity was optional, or something you did only if you had reason to believe your identity had been compromised.
Many of you have stepchildren. It’s perfectly fine to name stepchildren as the beneficiary of your retirement funds. However, care must be taken when naming them beneficiaries. Oftentimes, you need a spouse's consent.
When a Roth IRA owner dies, the money belongs to the beneficiary. Although Roth IRA owners never have to take minimum distributions during their lifetime, the beneficiary must take distributions after the Roth IRA owner dies.
Will you have enough to retire on? Or, will you outlive your money? These are important questions to ask, as Americans are living longer than ever before. And a recent study shows that many feel financially unprepared to live longer.
You’ve probably dreamed about what you’d do if you won the lottery—quit your job, build your dream home or even donate a large sum of money to your favorite charity. Scammers know these dreams and feelings well...and prey on them.
What options do you have when the estate inherits the IRA? If someone tells you it must be cashed out, don’t fall for it. Occasionally, there may be no other option, but don’t just take their word for it—be sure what the IRA agreement says.