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401K

The Time Machine

A time machine would be cool to have. Even if it only worked on financial assets, it sure would come in handy. One might jump into the future and see if an investment paid off, or you could look around to see where the smart money succeeded. And if the original investment turned out to be a loser, you could go back in time and sell it – or never even buy it in the first place. Too bad financial time machines don’t exist. Bummer. While literal time machines have yet to be invented and we can’t quantum leap,

Delaying RMDs From an Employer Plan and IRA Rollovers: Today’s Q&A Mailbag

This week's Slott Report Mailbag answers reader questions about delaying RMDs from an employer plan and IRA rollovers.

Are You Over 70.5 Years Old and Still Working? Understand Your Options With RMDs: This Week’s Q&A

This week's Slott Report Mailbag examines RMDs when you are still working past 70.5 years old and inheriting multiple IRAs.

Don’t Inherit a Mess When Your Spouse Passes Away: This Week’s Q&A

This week's Slott Report Mailbag looks into inherited IRAs, spousal rollovers, and 401(k)'s.

When You Want to Transfer 401(k) Funds from a Former Employer: This Week’s Q&A

This week's Slott Report Mailbag looks into into IRA contributions and rolling over 401(k) assets from former employers.

Quiz Yourself with These IRA Questions!

After you’ve answered the questions below, scroll down to see the answers and see how well you know your stuff!

3 Reasons a 401(k) Deferral Beats an IRA Contribution

1) There Are No Restrictions Preventing a Tax Break When you defer a portion of your salary into a traditional 401(k), the amount deferred will reduce your taxable income dollar-for-dollar. This is true regardless of how much income you (and your spouse, if applicable) have. In contrast, contributions to a traditional IRA are generally entitled to a tax deduction as well, but if your income is above certain limits and you (and/or your spouse, if applicable) are an active participant in an employer-sponsored retirement plan, then that deduction can be reduced or eliminated. Thus, in some scenarios, a contribution to a traditional IRA won’t help you reduce your current tax bill.

What Victims of Casualty Theft Need to Know: This Week’s Q&A

This week's Slott Report Mailbag looks into Casualty Theft, IRS rules, Medicare, and Roth conversions.

This Week's Q&A: Converting a Pre-Tax IRA to a Roth and More

This week's Slott Report Mailbag looks into converting and contributing to different IRAs, 401(k)s, and RMDs.

Over 59 1/2? You Must Know these Roth IRA and 401K Answers

This week's Slott Report Mailbag looks into Roth IRAs, 401Ks, contributions, tax-free options, and more.

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