By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport We have covered in The Slott Report the new SECURE 2.0 provision that allows unused 529 plan funds to be rolled over to Roth IRAs. It originally appeared that this new rule was to be effective for 2024....
-Darren Leavitt, CFA The S&P 500 and the Dow Industrial Average forged new all-time highs despite investors taking profits early in the holiday-shortened week. Semiconductor stalwart NVidia’s fourth-quarter earnings results induced a massive rally in the stock...
The reality of quitting work can be far different from the fantasy. Here’s what you need to know Even if you love your job, there are times when you’d rather be alphabetizing the spice shelf than riding a packed train alongside hundreds of sniffling fellow...
Weekly Market Commentary – 2/16/2024 -Darren Leavitt, CFA Wall Street took a breather last week as hotter-than-expected inflation data forced investors to recalibrate their expectations for rate cuts from the Federal Reserve. Mega-cap issues that have been...
If you have a dream destination in mind, careful planning and a willing boss could help you make the move ahead of schedule Rob Nehrbas was winding up his career as an executive at an Arizona-based laser device company he’d sold to a bigger competitor when he realized...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport By now, you probably know that a number of SECURE 2.0 provisions pertaining to 401(k) (and other company savings plans) became effective this year. We’ve already discussed two of them in The Slott Report....
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Are you thinking about making a Simplified Employee Pension (SEP) IRA plan contribution for 2023? If so, here are 6 rules you need to know. 1. Only a business can make a SEP...
Weekly Market Commentary – 2/9/2024 -Darren Leavitt, CFA The S&P 500 hit another record high and topped the 5000 level for the first time as investors focused on better-than-expected Q4 earnings. The economic calendar was light this week but showed...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport 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...
Get that 2023 refund fast and keep it safe from fraudsters Financial advisers usually tell you that it’s bad to get a big tax refund. A refund, after all, is money you paid the government that you didn’t owe. You could have used that money during the tax year instead...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport 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...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport We’re getting lots of questions about the SECURE 2.0 change that allows annuitized IRA annuities to be aggregated with non-annuity IRA funds for required minimum distribution (RMD) purposes. This change...
-Darren Leavitt, CFA It was a turbulent week on Wall Street as investors assessed the Federal Reserve’s decision on monetary policy while economic data and corporate earnings offered mixed results. Tensions in the Middle East escalated as the US hit Iranian proxy...
Question: I have two questions regarding the 15-year requirement that applies to new rules allowing rollovers from 529 plans to Roth IRAs. If you change beneficiaries, will it reset the 15-year clock? Secondly, if you roll your 529 plan into another 529 plan (say...
A few reasons to consider buying an annuity include the tax advantages, income for life and customization options for added benefits. The Annuity.org editorial team interviewed annuity buyers and financial experts to understand the best reasons to purchase one and how...
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Did you make a Roth IRA contribution for 2023? If you have not, you still have some time. The deadline for making a prior year contribution is the tax-filing deadline, not including...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport 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. Box 1, “Wages, tips, other...
Weekly Market Commentary – 1/26/2024 -Darren Leavitt, CFA US equities inked another set of weekly gains on the back of mixed 4th quarter earnings results and encouraging economic data. The S&P 500 and Dow set new all-time highs. Dutch Semiconductor Company...
Not only can these insights save you a boatload of stress later in life, but they can help ensure that you have a happy retirement. Planning for retirement is tricky. There can be a lot of uncertainty involved. You try to make good decisions with the information you...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: Is it possible to do a Backdoor Roth IRA conversion with a SEP IRA? If yes, how does it work? Thank you! Yulia Answer: Hi Yulia, Yes, you can do a Backdoor Roth IRA conversion with a SEP...