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The Slott Report

Will a SEP-to-Roth Conversion Affect My SEP Contribution Limit?

This week's Slott Report Mailbag looks at SEP IRAs and answers two questions on how SEPs fit together with Roth conversions and required minimum distributions in the retirement planning puzzle.

How This Couple Gave Away $50,000 in "Free" Money

Dan and Barbara are a couple soon heading into the second half of the retirement game. They had planned, and read, and strategized, and thought they were making sound financial decisions. That's before one meeting discovered they gave away $50,000 in "free" money.

Saying "I Do..." Has Its Benefits For Your IRA

With the calendar well into May, wedding season has arrived in full force. You have probably heard the saying that marriage has its benefits. Well, this is especially true when it comes to the IRA rules. If you are married, you may have some IRA options that would not have been available to you if you had not taken the plunge and tied the knot. Here are 4 IRA benefits you may have if you are married.

Is the Back-Door Roth IRA Strategy Still Viable?

This week's Slott Report Mailbag answers a college student's question on qualifying income for a Roth IRA contribution and discusses the still viable "back-door Roth" strategy.

Taking RMDs? What You Must Know about Moving Your IRA

Are you unhappy with how your IRA investment is performing? Are you considering moving your IRA funds to another custodian or advisor? You have this opportunity. Withdrawing your funds from certain investments may result in penalties, but the IRA rules are set up to allow portability. If you are taking required minimum distributions (RMDs) from your IRA, here is what you must know about moving your IRA.

I'm Over the Contribution Income Limit - Can I Still Get Money Into a Roth IRA?

This week's Slott Report Mailbag looks at the complications involved with pre- and after-tax contributions to different retirement plans and the rules involved with conversions and distributions.

Lessons to Learn From Prince's Estate Tax Problem

Most people are aware by now that Prince, the performer, passed away recently at the age of 57. So far, no one has been able to locate his will. Unlike most of us, Prince had a huge amount of assets held personally, in his own name. That means a long probate process and lots of fees for the lawyers. And that’s without any dissension among his family members. Here are the estate planning lessons to learn from Prince's mistakes.

You Can't Finance - But You Can Save For - Your Retirement

Are you a 20- or 30-something year old or do you know any of those individuals? You’ve now paid your taxes for 2015, take a deep breath, and start planning for your retirement. You will most likely have no pension other than Social Security, if it is still around. Social Security will not cover all of your living expenses just as Medicare will not cover all of your medical expenses. You need to start saving and planning for your retirement NOW. Here's how.

Do My Parents Need to Hold Their Converted Roth IRA Funds For Five Years?

This week's Slott Report Mailbag answers a question on how to distribute converted funds from a Roth IRA, discusses special required minimum distribution (RMD) rules for IRA beneficiaries and looks at the fine print of IRS Form 8606.

5 Things You Can Do With a 401(k) That You Can't With an IRA

401(k)s and IRAs share a lot of similarities. They are both retirement plans. They both can help you lower your tax bill today, provide tax-deferred growth and can help provide an income source in retirement. That said, there are also many differences between the two types of retirement accounts. Some are relatively insignificant and probably won’t impact your planning or decision-making process, but other differences can make one type of account far superior to the other in your particular situation. With that in mind, we explore 5 things you can do with a 401(k) that you can’t do with an IRA.


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