Retirement Income &
Planning
For Your Tomorrow
Articles
YEAR-OF-DEATH RMDS
By Andy Ives, CFP®, AIF® IRA Analyst When an IRA owner taking required minimum distributions (RMDs) dies before removing his annual RMD, that year-of-death RMD (or whatever portion remains) must still be withdrawn. Upon passing, the year-of-death RMD immediately...
RETIREMENT ACCOUNT RELIEF FOR DISASTER VICTIMS
By Sarah Brenner, JD Director of Retirement Education President Biden has declared September to be National Preparedness Month. The goal is to encourage Americans to be more prepared for natural disasters. Unfortunately, from flooding on the east coast to fires on the...
IRA ROLLOVERS & KEEPING TRACK OF YOUR CONTRIBUTIONS: TODAY’S SLOTT REPORT MAILBAG
By Sarah Brenner, JD Director of Retirement Education Question: Ed I heard on a podcast that you are the number one authority on IRAs, so I want to go to the most informative source. Could you answer this question for me? I have a Roth IRA and suddenly I was unable...
HOW DO REVOCATION-ON-DIVORCE LAWS WORK WITH ERISA PLANS?
By Ian Berger, JD IRA Analyst What if you have an IRA with your spouse as primary beneficiary, get divorced without changing your beneficiary and then die? Who inherits your IRA benefits. If you live in one of the 26 states (as of June 2018) that have...
QUALIFIED CHARITABLE DISTRIBUTIONS AND THE “MEGA” QCD STRATEGY: TODAY’S SLOTT REPORT MAILBAG
By Andy Ives, CFP®, AIF® IRA Analyst Question: I appreciate all of the information you pass along, both through PBS and now through the American College. In one of your recent presentations, you discussed QCDs and their often-overlooked value. I recommend QCDs to...
REAL ESTATE IN AN IRA – AVOIDING A “NUISANCE PROPERTY”
By Andy Ives, CFP®, AIF® IRA Analyst Yes, you are allowed to own real estate in an IRA. Of course, not every IRA custodian will accommodate such an investment, but that doesn’t mean it is forbidden. If you want to own a beach house in your IRA, or a commercial...
Monthly Market Review for August 2021
-Darren Leavitt, CFA Global markets rallied in August as economic data revealed strength across the globe. However, delta variant infection rates soared during the month, especially in unvaccinated populations, which dampened sentiment and global growth...
STRATEGIES WHEN YOUR IRA CONTRIBUTION CANNOT BE DEDUCTED
By Sarah Brenner, JD Director of Retirement Education The other day an advisor called us with an issue that comes up frequently, especially in these tumultuous times. His client had made an IRA contribution for 2021 and was planning on deducting that contribution....
ROTH IRA CONTRIBUTIONS AND QCDS: TODAY’S SLOTT REPORT MAILBAG
By Ian Berger, JD IRA Analyst Question: I am 72 years old and have a Roth IRA. I have some extra cash in a bank account. Can I put that into my Roth IRA and how much can I contribute for 2021? Answer: You could potentially contribute up to $7,000 to a Roth IRA this...
THE MEGA BACKDOOR ROTH IRA STRATEGY AND SOLO 401(K) PLANS
Ian Berger, JD IRA Analyst In the August 16, 2021 Slott Report, we showed that someone participating in a 401(k) plan through a “regular” job could also establish a solo 401(k) plan through a side job and potentially contribute up to $58,000 this year in after-tax...