Jan 27, 2021 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Here we go again…barreling headlong into another tax season. This year will be like no other. With all the crazy that was 2020, many tax filers will discover some new and interesting items on their tax returns. For example – did...
Jan 25, 2021 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education The rules for rolling over IRA distributions can be complicated at any time of the year. They are especially challenging at the end of the calendar year. Surprisingly, sometimes IRA owners have doubts as to whether...
Jan 24, 2021 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 1/22/2021 -Darren Leavitt, CFA The mega-cap technology issues led markets to another set of all-times as cyclicals took a step back after being red hot for the last several weeks. Fourth-quarter earnings continued to roll out with mixed...
Jan 22, 2021 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: We had a client who died with no beneficiaries on his $500k 401(k). He wasn’t married and only 45 years old. His parents are disclaiming rights to the inheritance, so it’s going to his siblings. Is there...
Jan 21, 2021 | IRA Blog
By Ian Berger, JD IRA Analyst Coronavirus-related distributions (CRDs) are no more. Millions of Americans took advantage of the opportunity to make penalty-free withdrawals from their IRAs and 401(k) plans in 2020. But unless Congress resurrects them, CRDs are no...
Jan 21, 2021 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
The author offers an introduction to how annuities can help. For investors, the last twenty years have been something of a roller coaster. The dot-com bubble, 9/11, the financial crisis, and now the recession associated with the COVID-19 pandemic have roiled stock...
Jan 18, 2021 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst As we enter tax season and consider last year’s transactions, it bears repeating: Roth IRA contributions can be recharacterized, Roth conversions cannot. A Roth IRA contribution can be recharacterized (changed) to a Traditional IRA...
Jan 18, 2021 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 1/15/2021 -Darren Leavitt, CFA Markets gave up a bit of ground last week as fourth-quarter earnings season kicked off and President-Elect Biden laid out his 1.9 trillion dollars economic stimulus plan. Economic data was mixed but painted a...
Jan 14, 2021 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
For many Americans, retirement may look different in 2021 than it has in years past. The severe economic impact of the Covid-19 pandemic could push many people to consider retiring early, with less saved than they may need. Whether or not your retirement plans are...
Jan 14, 2021 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: I recently retired and I plan to relocate to Tennessee. I would like to purchase a new home. Can I pull funds from my IRA to do so, and what would be the implications? Thank you. Edna Answer: Edna, If you are over 59 ½,...
Jan 13, 2021 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education The SECURE Act made many changes to the rules for beneficiaries who inherit retirement accounts. One of the most significant ones is the end of the stretch IRA for most beneficiaries. However, there are some...
Jan 11, 2021 | IRA Blog
By Ian Berger, JD IRA Analyst There’s been some confusion about the retirement plan aspects of the COVID-19 stimulus package signed into law on December 27, 2020. One national news network has reported that the new law extends the CARES Act tax breaks for...
Jan 10, 2021 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 1/8/2021 -Darren Leavitt, CFA Wow-what a way to start 2021. US equity averages hit another set of all-time highs despite Washington’s political turmoil and a Democratic sweep in the Georgia Senate runoff elections. Economic data...
Jan 7, 2021 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Considering annuities, insurance, new investments and delaying Social Security? With all the changes 2020 brought and a new year around the corner, it may be time to revisit traditional approaches to retirement planning. The pandemic and near-zero interest rates...
Jan 6, 2021 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst We are just a few days into the new year, and many people are anxious to get their full IRA contributions in for 2021. However, a common question is, “It’s only the first week of the year and I haven’t received a paycheck yet. Can...
Jan 4, 2021 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education A new year brings a fresh start, and after 2020, we need that more than ever. You probably have a few resolutions for 2021. When making your list of goals for the new year, don’t overlook your IRA. Here are a few...
Jan 2, 2021 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 1/1/2021 -Darren Leavitt, CFA The S&P 500 and Dow Jones Industrial average’s set new all-time highs in the holiday-shortened week. Another tranche of stimulus passed by Congress and signed by the President catalyzed markets higher early...
Jan 1, 2021 | Market Review and Outlook
-Darren Leavitt, CFA Financial markets rallied in December on the prospects and ultimate agreement of another tranche of Coronavirus stimulus. Covid-19 vaccine emergency use approvals from the FDA aided market sentiment even as daily infection rates,...
Dec 31, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: Can a retired person not working contribute to a Roth IRA? Answer: There are no age limits for Roth IRA contributions. This allows older people to contribute. However, the rules do require earned income....
Dec 31, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
It’s a pivotal age for retirement planning — even if you aren’t ready to retire yet Gone are the days when most people retired at 65, received a gold watch, then lived off their pension and full Social Security benefits. But 65 is still an important age...
Dec 30, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst From The Slott Report, December 30, 2019: “2020 promises to be an exciting year in the IRA and savings plan worlds, as the full ramifications of the new SECURE Act begin to take shape. Beyond that, the IRS will likely finalize the new...
Dec 28, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Ah, the end of the year. Snow is drifting, music plays quietly in the background. Ma in her kerchief, Papa in his cap, just settling down for a long winter’s nap… Nope. No time for that. ‘Tis the season of BUSY, BUSY, BUSY! Did you...
Dec 28, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 12/25/2020 -Darren Leavitt, CFA US equity markets were mixed in a holiday-shortened week. Corporate news was limited but influenced individual issues while trade was relatively subdued. Investors continued to focus on Washington...
Dec 28, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Over the last year, both before and after the current pandemic, there have been multiple law changes that have impacted retirement plans and retirement benefits. There have been many articles and constant commentary on these changes, but as we reach the end of 2020,...
Dec 24, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Recently, I received two checks, one for all assets in a Traditional IRA and one for all assets in a Roth. Mindful of the 60-day rollover rules, I endorsed one of them to my brokerage company to complete an IRA-to-IRA...
Dec 23, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education We at the Slott Report would like to wish all our readers a happy and safe holiday season. 2020 has been a year like no other. Thank you for taking your valuable time to read the Slott Report during this...
Dec 21, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst One year ago from yesterday (December 20, 2019), President Trump signed into law the SECURE Act. At that time, virtually no one had heard of the coronavirus and certainly very few (if any) could have foreseen the global pandemic that’s...
Dec 21, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 12/18/2020 -Darren Leavitt, CFA Choppy trade action throughout the week led US stock indices to another set of all-time highs. Coronavirus stimulus package negotiations dominated headlines while the December Federal Reserve meeting affirmed...
Dec 18, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
The COVID-19 pandemic has upended just about everything this year, including retirement planning. Enough new rules governing Individual Retirement Accounts and workplace 401(k) plans were introduced that a year-end review is in order. Congress enacted many of these...
Dec 17, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Hello, Can you still recharacterize a Roth contribution (due to income limits) to a Traditional IRA and then subsequently convert the IRA back to a Roth in the same year? Will this conflict with the new law that prohibits...
Dec 16, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Bob is 40 years old. He is a single tax filer, participates in a 401(k) at work, and makes a healthy annual salary of $160,000. Bob has consistently contributed $5,000 each year to his Traditional IRA for 5 years ($25,000 total)....
Dec 14, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education The end of 2020 is almost here. With the end of the year come certain retirement account deadlines. Here are 5 items you should have on your 2020 year-end retirement plan to-do list: 1. Do a 2020 conversion If you...
Dec 14, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 12/11/2020 -Darren Leavitt, CFA Market action was mixed for the week. Hope for another tranche of stimulus and positive news on a coronavirus vaccine’s progress aided market sentiment early in the week. However, COVID-19 infection...
Dec 11, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then? The Center for Retirement Research at Boston College proposes that strategy as a default option in retirement plans. What do Social Security benefits and...
Dec 10, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: I am 79 and still employed. My employer has an SEP for me and I have a Rollover IRA from a previous employer. Can I transfer my Rollover IRA to the SEP account? Thank you, George Answer: Hi George, There...
Dec 9, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Thinking of using your IRA as a “short-term loan” to raise some extra cash for the holidays? What could go wrong? Well, actually, two major things could go wrong. And either could lead to serious tax headaches. Let’s say Chloe started...
Dec 7, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 12/4/2020 -Darren Leavitt, CFA US equity markets hit another set of all-time highs last week. Positive price momentum carried over from a strong November into the start of December, and more positive news on Covid-19 vaccines coupled with the...
Dec 7, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Recently we became aware of a multi-layered tax strategy that we think is a bridge too far when it comes to Coronavirus-related distributions (CRDs). In fact, it may even be outright tax fraud. As most readers are aware, the CARES...
Dec 4, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Fixed indexed annuities (FIAs) address many basic retirement concerns: protection of hard-earned dollars, tax-deferred growth, balance, and lifetime income. Get some peace of mind — no matter what happens in the market. Consider these five key benefits: Guaranteed...
Dec 3, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: My father passed away in 2019 and left me an IRA. Will the SECURE Act apply, or will it be grandfathered under the pre-2020 rules? Thank you. Aram Answer: Aram, Since your father passed away in 2019, we will default to...
Dec 2, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education The clock is ticking if you are considering converting your Traditional IRA to a Roth IRA in 2020. More IRA owners are making this move this year as historically low tax rates and COVID-related income losses have...
Dec 1, 2020 | Market Review and Outlook
-Darren Leavitt, CFA Global markets rallied in November. A historic US election played out as one of Wall Street’s best-case scenarios. Three effective Covid-19 vaccines were announced over the month, which further stocked investor enthusiasm. Third-quarter earnings...
Dec 1, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 11/27/2020 -Darren Leavitt, CFA US financial markets hit all-time highs during the week, with the Dow surpassing the 30,000 mark for the first time. If markets can hold on to gains in Monday’s trading session, it will become the best November...
Nov 30, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Thanksgiving is behind us, and the end of the year will be here soon. (Many of us are truly thankful for that!) This is a good time to remind you of certain tax breaks that will expire before we turn over the calendar to 2021. Many of...
Nov 25, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst We have collectively crawled into the hollow of a 2020 tree and found ourselves in the Upside Down. (That is a “Stranger Things” reference, for the uninitiated.) The SECURE Act turned beneficiary options upside down. The CARES Act...
Nov 25, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
And one other reason to keep working Being ready to retire means more than being ready to stop waking up at 6:00 a.m. to put in long hours at a job you’re not thrilled about. If it were that simple, most of us would retire at 25. What it really takes to retire...
Nov 23, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 11/20/2020 -Darren Leavitt, CFA Financial markets were mixed last week. Cyclicals continued to outperform on news that Moderna and AstraZeneca vaccine trials have shown excellent results. 3rd quarter earnings continued with better than...
Nov 23, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education The IRS has recently added a new reason for self-certification of late rollovers to its list. Revenue Procedure 2020-46 modifies the list of reasons to include an IRA or company plan distribution made to a state...
Nov 20, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Durable power of attorney is one of the most important and useful documents you will ever sign. It is also one of the most dangerous if it falls into the wrong hands. Your will controls what happens to your money after your death. But the power of attorney can...
Nov 19, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Good Morning, We have a client that passed away in November of 2019 at the age of 85. Her beneficiaries would be required to take their RMD in 2020. Are they eligible under the CARES Act to forgo that RMD for this year? Thank...
Nov 18, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst We continue to get questions about the limits that apply for folks who participate in multiple company savings plans at the same time or who switch jobs in the middle of the year. What’s confusing is that there are two limits – the...
Nov 16, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 11/13/2020 -Darren Leavitt, CFA Financial markets rallied to all-time highs on news that Pfizer and BioNTech have a 90% effective Covid-19 vaccine. The news induced a robust rotation trade out of Mega-cap Technology shares into value-oriented...
Nov 16, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst With Veterans Day being just last week, an overview of two military retirement benefits felt like an all-important and appropriate topic of discussion. One benefit pertains to a penalty exception for accessing retirement dollars...
Nov 13, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
It’s a way to hedge against uncertainty The COVID-19 pandemic is making many Americans — whether they’re approaching retirement age or just starting out in their career — anxious about their finances, and retirement savings and plans. As a result, people are...
Nov 12, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: Is there any problem with someone who is self-employed and has an active SEP making a deductible SEP contribution and an IRA QCD after age 70 1/2? In this case, the QCD would come from the IRA while the...
Nov 11, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Both Roth 401(k)s and Roth IRAs offer the ability to make after-tax contributions now in exchange for tax-free earnings down the road if the rules are followed. However, there are some important differences between...
Nov 9, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Good news! You can look forward to somewhat smaller required minimum distributions (RMDs) from your IRA and company retirement savings plan beginning in 2022. That’s because, on November 6, the IRS released new life expectancy tables that...
Nov 9, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary 11/6/2020 -Darren Leavitt, CFA It was an extremely busy week on Wall Street. The election results were top of mind for investors, and given the current expected outcome gave investors reason to buy risk assets. The Federal Reserve Open...
Nov 5, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Great work you all do. Been a reader of Ed for a long time. How would this scenario work? New client of mine’s husband passed away in 2019 and he had not taken his RMD. The plan was to transfer the account to my...
Nov 4, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Millions of Americans expect their efforts to save for retirement to be derailed, perhaps permanently, by the coronavirus pandemic. That’s the main takeaway from several surveys released in October that begin to create a snapshot of the retirement landscape in the...
Nov 4, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst When a person under the age of 59 ½ takes a withdrawal from their IRA or company plan – like a 401(k) – there is a 10% penalty. However, this penalty can be avoided if the withdrawal qualifies for an exception. Some...
Nov 2, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
October 30th, 2020 -Darren Leavitt, CFA Markets sold off in what was a hectic week. The earnings and economic calendar were stacked. Coronavirus infection rates ticked higher and induced lockdown measures in France, Germany, and the UK, which hindered sentiment. ...
Nov 2, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education The year 2020 has been a challenging one. With coronavirus cases rising in most of the country and economic relief stalled in Congress, many individuals may be looking to find funds to pay urgent bills. One...
Nov 1, 2020 | Market Review and Outlook
-Darren Leavitt, CFA Global financial markets had mixed performances in October. Investors were hoping for another tranche of stimulus from Washington, but the politicians were too far apart to get a deal done in the end. The US Presidential election continued to...
Oct 29, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Our estate planning attorney prepared trust documents a few years ago and he advised us to name the trust as a beneficiary. This was done after discussion with him regarding a situation in case our son(s) divorce their wives. ...
Oct 28, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst The October 19, 2020 Slott Report article, “Don’t Overlook After-Tax Contributions!,” explained how after-tax contributions in company plans work and discussed the dollar limits on them. This article will explain how...
Oct 28, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Don’t let the pandemic derail your plans for retirement These days, older workers and retirees are understandably concerned that their retirement plans will be disrupted by the COVID-19 pandemic and the resulting economic downturn. There are concerns that pre-retirees...
Oct 26, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Trick-or-treating in the time of a pandemic is a challenge. Social distancing while handing out candy requires some creativity. The Slott Report has elected to place a big bowl of random treats in front of our house for the kids to...
Oct 26, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
October 23rd, 2020 -Darren Leavitt, CFA Markets traded sideways for much of the week as investors continued to watch Washington fail to negotiate another tranche of stimulus. 3rd quarter earnings continued to roll-out with results coming in mixed. The familiar...
Oct 23, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Workplaces have grown steadily less friendly to older employees, and the pandemic has pushed more of these workers from the labor market. Joey Himelfarb estimates that in his 25 years in sales, hawking everything from Hewlett-Packard computers to cars and swimming...
Oct 22, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: Hello, If an individual has a solo 401(k), is this considered a “retirement plan at work” that would limit the deductibility of IRA contributions? Thanks! Susan Answer: Hi Susan, Being an...
Oct 21, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: Hello, If an individual has a solo 401(k), is this considered a “retirement plan at work” that would limit the deductibility of IRA contributions? Thanks! Susan Answer: Hi Susan, Being an...
Oct 19, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst With the popularity of Roth 401(k) contributions, after-tax employee contributions have gotten short shrift. But, if your plan offers them, after-tax contributions are worth considering because they can significantly boost your retirement...
Oct 19, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
October 16th, 2020 -Darren Leavitt, CFA US Market averages were little changed for the week. The beginning of 3rd quarter earnings started with ho-hum results from the financials, some transports also missed the mark, and a high flying cloud computing company,...
Oct 15, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Motivating people to save for retirement isn’t easy. Fraught decisions around when to start a nest egg, how much to set aside, and where to invest can be so overwhelming that inertia often sets in. Increasingly, economists who study this paralysis have shown that...
Oct 15, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: An 85-year-old died in 2020 and left his IRA to his 53-year-old son. Father did not take 2020 $107,000 RMD. Does the son have to take it? Does the son have to take anything in first 9 years, including this RMD? Thank you....
Oct 14, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst As Halloween approaches and the leaves change color, families gather ‘round weekend campfires, roast marshmallows, and share spooky stories. Watchful owls hoot in the dark. In the distance, a wolf howls at the moon. A rustle in the...
Oct 13, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Educations For trusts that inherited an IRA in 2019, an important deadline is approaching. October 31, 2020 is the due date to provide required trust documentation to the IRA custodian to ensure that the longest payout...
Oct 13, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
October 9th, 2020 -Darren Leavitt, CFA Markets extended their rally last week on optimism around another tranche of stimulus. Value-oriented small-cap cyclicals were in favor and sent the Russell 2000 up 6.4% for the week. The S&P 500 gained 3.8%, the Dow was...
Oct 8, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
The world has been in a panic since the outbreak of coronavirus, causing almost unprecedented market volatility. Some have been quick to compare this to the credit crisis of 2008 that lasted five years. Depending on the duration of the health crisis, I foresee it more...
Oct 8, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Sir, I inherited an IRA from my sister two years ago. She was collecting RMDs at 78. My question involves collecting my sister’s RMD. Does the 10-year withdrawal go into effect now or do I use the table under my age, which is...
Oct 7, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst With the recent economic downturn, you may be more concerned than ever about keeping retirement plan funds safe from creditors. If you participate in a plan covered by the federal Employee Retirement Income Security Act (ERISA), you can...
Oct 6, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
October 2nd, 2020 -Darren Leavitt, CFA Financial markets rallied last week, putting an end to four straight weeks of losses. Investor optimism was stoked early in the week on news that the Administration and Democrats were working on a fiscal stimulus compromise. ...
Oct 5, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Many years ago, my wife and I went to lunch at a pizza joint in a strip mall. The friendly gray-haired host in sensible shoes (whom I pegged for mid-to-late 60’s), tucked two menus under her arm, grabbed a couple sets of silverware...
Oct 2, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
The old line about retirement goes something like: “My problem is not that I have too little money left at the end of the month, it’s that I have too much month left at the end of the money.” For many people, though, the real issue could be having too little money for...
Oct 2, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: Would you kindly clarify the rule that governs the withdrawal period and the tax implication (if any) of RMDs from an inherited IRA? The SECURE Act and the IRS document 590B are not clear. Here is the...
Oct 1, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Times are tough. Unemployment is high and bills are piling up for many. These realities have forced a lot of people to look for sources of extra cash. For many Americans, their IRA is their biggest, or maybe only,...
Sep 30, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hi there! I have a quick question, so I thought I’d reach out to you to get your take on this. This year, IRA RMD’s have been waived, even for inherited IRA’s. That said, if a non-spouse inherits an IRA this year – and...
Sep 29, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
September 28th, 2020 Chadd Mason, CEO The Cabana Group Volatile Markets Continue as We Approach an All-Important Earnings Season U.S. equity indexes continue to experience heightened volatility. This has been the case for much of September and should come as no...
Sep 29, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst An argument could be made that the easiest financial document to complete is the IRA beneficiary form. Yet somehow this basic information consistently gets overlooked, mishandled, lost or fouled up. It’s not rocket science. Don’t...
Sep 28, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Think of a top hat, and you’ll likely conjure up images of Franklin Delano Roosevelt or the temporarily-deceased Mr. Peanut or Rich Uncle Moneybags from Monopoly. But a “top hat plan” is also the informal name of a type of section 457(b)...
Sep 28, 2020 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Ed and team, I am sure my question has been asked by others. Now under the SECURE Act with no more stretch features to an inherited IRA, if a person dies and leaves his IRA to a child and that child waits 9 years and 11 months...
Sep 28, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education A significant percentage of IRA assets will ultimately go to nonspouse beneficiaries. When these beneficiaries inherit the funds, special rules kick in. Inherited IRAs are not like other IRA accounts. Here is what...
Sep 28, 2020 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Gradually, the IRS is clarifying sections of the SECURE Act that require further guidance. In Notice 2020-68, released September 2, the IRS addressed a number of items in a Q&A format. For example, “Is a financial institution...
Sep 26, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Section 2202 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, provides for special distribution options and rollover rules for retirement plans and IRAs and expands permissible loans from certain retirement plans. Q1....
Sep 22, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
September 21st, 2020 Chadd Mason, CEO The Cabana Group A Necessary Dose of Reality Equity markets resumed selling after the Federal Reserve meeting last Wednesday. The 50-day moving average on the S&P 500 was promptly broken, and closed well beneath that important...
Sep 17, 2020 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
As the Coronavirus has spread in communities around the country, Americans are becoming increasingly concerned about the impact of the virus on jobs, the economy and their own financial security – but most importantly about the health and safety of their loved ones....
Sep 15, 2020 | Weekly Market Commentarfy, Weekly Market Commentary
September 14th, 2020 Chadd Mason, CEO The Cabana Group Volatile Markets and Wildfires Continue, But Not All News is Bad Markets continue to be volatile this week as investors try to determine whether we have come too far too fast off the March lows. The good news is...
Sep 11, 2020 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
COVID-19 has shaken America and the world, causing widespread social and economic upheaval. The most obvious and distressing cost is the tens of thousands of lives lost to the pandemic, but attendant costs range from shuttered businesses to an unprecedented hole in...
Sep 10, 2020 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: Does the SECURE Act have any implication to Roth IRA account inheritance longevity? Please let me know. Thank you. Regards, Vikram Answer: Hi Vikram, The SECURE Act does affect inherited Roth IRAs in the...
