Andy Ives | Ed Slott and Company, LLC

Andy Ives

Last Week in La Jolla

Last week in La Jolla, California, the Ed Slott team hosted another incredibly successful 2-day advisor training program. Nearly 200 financial professionals from across the country chose to join us for some intense IRA and retirement plan education. Topics included all things Roth, net unrealized appreciation, naming trusts as IRA beneficiaries, new SECURE 2.0 updates, QCDs, 10% penalty exception rules, creditor/bankruptcy protection rules, and the list goes on.

Roth Conversions and Inherited IRAs: Today's Slott Report Mailbag

QUESTION: If an individual has both an IRA and a 401(k) and wants to convert the IRA to a Roth IRA, does he have to take both the IRA and the 401(k) RMD (required minimum distribution) before doing a Roth conversion? Thanks for your kind attention.

Ghost vs. 5-Year: The Calendar Dictates

Ever since the SECURE Act created a 10-year payout rule for most IRA beneficiaries, that topic has garnered the bulk of conversation. This is understandable. Not only was the 10-year rule a brand-new payout structure, but questions swirling around application of the 10-year window remain unsettled.

Roth IRA for a Teenager – An Astronomical Result?

The mailman delivered my son’s 2023 W-2 the other day. I was curious what he earned last year as a lifeguard at our community pool, so I opened the envelope.

529 Plans and Qualified Charitable Distributions: Today's Slott Report Mailbag

QUESTION: I have been funding a 529 account for over 15 years and no longer need to add deposits. Could I change the beneficiary to myself and then convert to a Roth IRA, assuming I have met the 5-year deposit hurdle as well? Has the government ruled on when the clock starts for the 15 years? Meaning, is it from when you open the account or does it restart when you change the beneficiary?

529-to-Roth: Now Available, But Questions Persist

Just over a year ago (December 2022), the SECURE 2.0 Act was signed into law. That legislation contained an extensively discussed provision – allowing excess dollars in a 529 college savings plan to be rolled over to a Roth IRA. At the time, we knew there were a couple of unanswered questions in the law as it pertained to the 529-to-Roth transaction. However, since the 529-to-Roth rollover was not permitted until this year (2024), it was anticipated that any nebulous language or confusion would be cleared up well before the 2024 calendar change.

Backdoor Roth IRA Baggage

We hear it all the time. “If your income is too high for a direct Roth IRA contribution, just do a Backdoor Roth. Easy-peasy!” Not so fast, my friend. A Backdoor Roth IRA transaction is like a musclebound hotel bellhop – it can carry a lot of baggage. However, before we can discuss said baggage…

Inherited IRAs and Eligible Designated Beneficiaries: Today's Slott Report Mailbag

QUESTION: If the grandkids who inherited an IRA are under the age of majority, when does the 10-year rule for emptying the account begin? At the death of the IRA owner, or when they reach the age of majority? Thanks,

Two Holiday Lists

The SECURE 2.0 Act contained over 90 sections and included numerous IRA and retirement account changes. Additionally, the legislation incorporated staggered effective dates over multiple years. Here is a list of 10 items from the Act scheduled to come on-line in 2024:

Bad Santa & The Grinch Offer Horrible IRA Advice – Part 2

The investment advisory firm of Bad Santa & the Grinch continues to disseminate misinformation and lousy, no good, rotten-to-the-core IRA advice. As we saw in “Bad Santa & The Grinch Offer Horrible IRA Advice – Part 1” (Slott Report, November 29), these two unsavory characters take great joy in fouling up not only your holiday, but also the qualified status of IRAs. Here are more fish bones, brown banana peels, coffee grinds and raccoon meals from their dented trash can of “IRA assistance.”

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