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Important October IRA Deadlines

There are two important dates in October, the 15th and the 31st. Read on to learn more about these deadlines and dates to put on your calendar.

Why You Should Sign Up For Medicare When You Are 65

One of the most common questions asked by people approaching their mid 60’s is, “When do I have to sign up for Medicare?” For most people, the short answer is, “when you turn 65.” Here's why.

10 Things You Should Know About the 10% Early Distribution Penalty and IRAs

IRAs are designed to be used for retirement savings. Ideally, to maximize the benefits of these accounts, you should not touch these funds before reaching retirement age. However, in the real world, you may need money and consider tapping your IRA earlier. If you do, you should be aware of the 10% early distribution penalty. This penalty is assessed on early distributions from IRAs, in addition to any taxes you may owe. Here are ten things you should know about the 10% early distribution penalty and IRAs.

September's Top 10 Retirement Facts and Figures

We are beginning a new monthly feature - a content creation stream of each month's best retirement and retirement planning facts and figures. Before each fact, you’ll find my own brief commentary, and after each fact, you’ll find the original article from which the fact was pulled should you be interested in further reading.

Am I Violating the 30-Day Waiting Period for Reconverting Recharacterizted Funds?

With the Roth recharacterization deadline approaching (October 15), this week's Slott Report Mailbag answers a great question about the 30-day waiting period on reconverting funds after a recharacterization and further clarifies a reader's question on utilizing the stretch IRA.

Converting to an Inherited Roth IRA

A question we are frequently asked is, "can I convert my inherited retirement plan funds to an inherited Roth IRA?" The answer is no – and yes. The explain when you can and when you can't in today's article.

With a MyRA, You Can Save and STILL Have a Life in Your 20s

An article titled “If You Have Savings In Your 20s, You’re Doing Something Wrong” has recently gone viral. The article, which got over two million likes on Facebook, suggests that saving for your future in your twenties is a bad idea. It suggests that if you are in your twenties, you would be better off going out, spending money and enjoying life rather than saving for the future. We explain why you don't have to take an all-or-nothing approach to savings decisions in your 20s.

Can I Take All of My RMDs From Just One of My Inherited IRAs?

This week's Slott Report Mailbag looks at QLACs (qualified longevity annuity contracts) and whether an inheritor of several IRAs can take all of his or her RMDs (required minimum distributions) from one of the inherited IRAs.

How Current is Your Beneficiary Form?

You opened your IRA account 20 years ago and named your spouse as the beneficiary of your IRA. Life has been good for the last 20 years, and you are still married to that same spouse and that same financial institution is still on the corner. But should you still have the same beneficiary form? A lot has changed in 20 years. You've updated your wardrobe and car. And you probably need to update your beneficiary form.

The MOST Important Piece of Information IRA Beneficiaries Must Know

Are you named as a beneficiary on an IRA? It probably is not your intention to have a large portion of that inherited IRA go to taxes. How can you avoid this unfortunate outcome and maximize your IRA tax advantages? What is the most important thing you need to know as an IRA beneficiary?


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