Aug 22, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 8/19/2022 -Darren Leavitt, CFA US equities and bonds ended the week lower in an erratic fashion. Technically, the S&P 500 failed to surpass it’s 200- day moving average, which gave reason for investors to take profits. The...
Aug 22, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport August is winding down and September is just around the corner. That means that it is back to school time! Education can be expensive. This year, with inflation raging, that...
Aug 18, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Question: Hi, My wife (68) inherited a traditional IRA and a Roth from her sister (71) in 2021. Both accounts have been moved to inherited IRAs. I’m trying to do some tax...
Aug 17, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
A long and fulfilling retirement takes more than just money. Here are seven things happy retirees do – besides dutifully saving the money they’ll need to finally quit the 9-to-5 grind. Retirement planning is all about numbers. It centers around one question: Do my...
Aug 17, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport Here’s a line from one of the manuals we use in our education seminars for advisors: “Missed stretch IRA RMD by an EDB, when the IRA owner dies before the RBD.” An old baseball expression says: “You...
Aug 15, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Lifetime required minimum distributions (RMDs) start in the year when an IRA owner turns 72. (Technically, the “required beginning date” for RMDs is April 1 of the year after a person turns...
Aug 14, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 8/12/2022 -Darren Leavitt, CFA Weaker than anticipated inflation data released in the second half of the week bolstered the peak inflation narrative and catalyzed the S&P 500 to the fourth week of gains. Of note, on a technical...
Aug 11, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport Question: When converting an IRA to a Roth IRA, do the investments (stocks, bonds, ETFs, etc.) have to be sold or can they be transferred directly from the IRA into the new Roth account? Answer: There...
Aug 10, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Are you nearing retirement age and not looking forward to taking unwanted required minimum distributions (RMDs) from your retirement account? You may be looking for a strategy...
Aug 10, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
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...
Aug 8, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport If a retirement account transaction becomes a taxable distribution, you probably know you will owe taxes and possibly the 10% early distribution penalty (if under age 59 ½) on the distribution. But...
Aug 7, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 8/5/2022 -Darren Leavitt, CFA Despite a cautious start to the week, US equity markets posted gains for the third week. A tepid ISM manufacturing report coupled with uncertainties surrounding House Speaker Pelosi’s visit to Taiwan...
Aug 6, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Couples on their second marriages need to plan carefully for each other and their kids A second marriage can be a balm for the heartache of losing a spouse, be it through death or divorce. Nevertheless, if there are children or other heirs involved, you should...
Aug 4, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Question: My husband is the sole beneficiary of a Traditional IRA owned by his cousin, who recently passed away. From my research, I believe my husband fits the exception criteria of...
Aug 3, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Each week the Ed Slott team answers questions from financial advisors across the country. Sometimes we see a pattern in repeating questions, sometimes the questions are relatively basic, and...
Aug 1, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Many Americans are still working long beyond what has traditionally been retirement age. This may be a choice or a necessity. If this is your situation, you may be keeping...
Aug 1, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 7/29/2022 -Darren Leavitt, CFA Investors faced the busiest week of the year as 175 companies representing 50% of the S&P 500’s market capitalization reported 2nd quarter earnings. The results were mixed and produced drastic swings...
Jul 28, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: Can an RMD from an inherited IRA be taken out of your own traditional IRA? Jack Answer: Hi Jack, Aggregation of required minimum distributions (RMDs) can be complicated and we get a lot of questions on...
Jul 27, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
In 2007, at age 52, I was forced to retire overnight. An MRI had revealed a tumor, the size of a large eggplant, sitting on my pelvis. In 98% of these cases, my oncologist told me, bone tumors are secondary cancer. He estimated that I had about six months to live. But...
Jul 25, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst When moving retirement money from IRA to IRA, or from a workplace retirement plan like a 401(k) to an IRA, there are essentially three methods to relocate those dollars. Two of them are similar, and the third opens all kinds of...
Jul 24, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 7/22/2022 -Darren Leavitt, CFA US financial markets rallied over the week despite increasing economic growth concerns. A very weak BofA Fund Manager Survey validated a sense that some, if not most, of the coming economic weakness has...
Jul 21, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Question: I have just read as many questions and answers as I could on The Slott Report and am still very confused. Simply put, I am over 80 years old, and I have had a Roth and a traditional IRA for many years. My daughter is the sole...
Jul 21, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Prepare for the monetary shock of widowhood When you lose your mate, you lose so much—your best friend, your equilibrium, your future together. And just when you’re at your lowest, it hits you: You could lose a lot of money, too. Your finances may crash in myriad ways...
Jul 20, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Back in 2020 when COVID first became our new reality, Congress enacted the CARES Act. The CARES Act allowed qualified individuals who were affected by COVID to take penalty-free distributions from their retirement...
Jul 18, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Like most everything else these days, the price for receiving an IRS private letter ruling (PLR) has recently gone up. A person will request a PLR to receive the IRS’s blessing that a specific tax transaction won’t violate the tax code or...
Jul 17, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 7/15/2022 -Darren Leavitt, CFA It was an extremely busy week on Wall Street with a full calendar of economic data and the start of 2nd quarter earnings. Growth concerns fostered more selling in equities and commodities while the long...
Jul 14, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Thinking about retiring? The keys to contentment are at your fingertips Some might say that an ideal retirement would find you waking up in a private Mediterranean villa on a mattress made of freshly ironed $100 bills. And it’s true: Money is a big part of a...
Jul 14, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Is there a required minimum distribution (RMD) on a self-directed IRA? Answer: A “self-directed IRA” is nothing more than an IRA that invests in unconventional items that not all custodians will handle – like maybe crypto...
Jul 13, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Conduit IRAs, sometimes called “rollover IRAs,” typically contained only money rolled over from a company plan – and subsequent earnings on those dollars. But a 2001 tax law (Economic Growth and Tax Relief Reconciliation Act...
Jul 11, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education A Qualified Charitable Distribution (QCD) is a way for you to move funds out of your IRA to a qualifying charity income-tax free. If you are thinking this might be a good strategy for you, here are 4 QCD rules that...
Jul 11, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 7/8/2022 -Darren Leavitt, CFA The holiday-shortened week saw the US stock market bounce while US Treasuries gave up the bulk of their prior weeks’ gains. Economic data was highlighted by the June Employment Situation report that...
Jul 8, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Caregivers can play a key role in keeping criminals at bay It’s a sad fact of life: Criminals target older Americans for fraud. Many older folks have nest eggs. Cybersecurity is not their second language. They came of age during more trusting times. And they may be...
Jul 7, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Proposals to boost IRA and workplace plan savings are advancing, but they are not law yet. Several actions must occur before the proposals become law. On March 29, the House passed the “Securing a Strong Retirement Act of 2022.” Now, two...
Jul 6, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: Dear Sirs: I inherited a regular IRA upon my mother’s death in 2015. I am now 75 years old and have been taking required distributions since then. She was taking distributions herself when she died....
Jul 5, 2022 | IRA Blog
By Ian Berger, JD Director of Retirement Education Should I Accept a Lump Sum Buyout Offer? With economic uncertainty increasing, more companies with defined benefit (DB) pension plans will likely attempt to improve their bottom line by offering lump sum buyouts. A...
Jul 4, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 7/1/2022 -Darren Leavitt, CFA Markets took a step back after the prior week’s impressive rally. The same culprits showed up to dampen investors’ appetite for risk assets- growth concerns, inflation, and hawkish central bank rhetoric....
Jul 1, 2022 | Market Review and Outlook
Monthly Commentary – June ’22 -Darren Leavitt, CFA It was just an ugly month of June for investors and for that matter the 1st half of 2022. All asset classes seemed to fall except for the US dollar. The month started with a “peak inflation” narrative...
Jun 30, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Question: I am 66 and would like to convert one of my IRAs to a Roth, but I am not sure if any of my old IRA accounts have any after-tax contributions. I have no records, so I assume they are all pre-tax but I am not sure. If I convert...
Jun 29, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Over the past couple of months I have been tasked with the unfortunate responsibility of helping my mother sort through her financial affairs after the death of her spouse. My dad passed in March, and it has been a steady stream of...
Jun 29, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Steep rises in energy, housing, food WASHINGTON — Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing American consumers and wiping out the pay raises that many people...
Jun 27, 2022 | IRA Blog
By Sarah Brenner Director of Retirement Education You may have heard how converting to a Roth IRA is a great move for younger people. This is no surprise. A younger person who converts has two big factors working in her favor. She may pay taxes on a smaller IRA...
Jun 27, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 6/24/2022 -Darren Leavitt, CFA In a holiday-shortened week, financial markets bounced out of extreme oversold conditions. Mega-cap growth stocks outperformed value issues, mid-caps, and small caps. The Fed Chairman was on the hill in...
Jun 23, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hi Ed, I’m 66 Years old. Less than a year ago I converted into my Roth from my traditional IRA with the intention of parking it there until I could finalize the details of a summer house purchase. I know I have taxes to...
Jun 23, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Economic downturns are inevitable. Here’s how to protect your retirement nest egg Sooner or later, the economy will fall into a recession, because that’s the nature of the economy: Busts follow booms. For many retirees, the biggest challenge is the investment...
Jun 20, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst The 72(t) rules (”series of substantially equal periodic payments”) allow a person to tap retirement dollars before 59½ without a 10% early distribution penalty. However, to gain this early access, you must commit to a plan of...
Jun 20, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary – 6/17/2022 -Darren Leavitt, CFA Investors sent global markets lower on recession fears induced by tighter central bank policies. The Federal Reserve announced that they would raise their policy rate by 75 basis points to a target of...
Jun 17, 2022 | Blog, Financial, Financial Services Newsletter, Weekly Article, Weekly Newsletter
IRS tax code offers perks to taxpayers of a certain age If you’re 50 or older, there is one benefit to reaching this milestone that you may be overlooking: tax breaks aimed right at you. Now you can contribute more to your Roth or traditional individual retirement...
Jun 16, 2022 | IRA Blog
By Sarah Brenner Director of Retirement Education Question: Ed, My mother passed away in May 2019, and I inherited her IRA. She had not completed her RMD for 2019, so I did that. In 2020, I began my RMDs based on the Single Life Table for Inherited IRAs. Since I...
Jun 15, 2022 | IRA Blog
By Sarah Brenner Director of Retirement Education If you inherit an IRA, especially if it is a larger one, you may be afraid of being stuck with the five-year distribution rule. If this rule applies, your IRA must be entirely emptied in five years, which can be a...
Jun 13, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Those of you who participate in 401(k) plans or certain 403(b) plans should see something new on your next quarterly statement for the period ending June 30, 2022. For the first time, the statements must include illustrations of the...
Jun 9, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Good Day, I have a client (age 65) who inherited a traditional IRA from her mother in 2020. I know that she must empty the account by 12/31/30. She is not an eligible designated beneficiary (EDB). I’m trying to calculate the...
Jun 8, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst SCENARIO: John owns multiple Roth IRAs. He believes it is necessary to maintain all these accounts to keep things properly organized and to track his 5-year conversion clocks. He has contributed to Roth IRA #1 for over a decade. He...
Jun 6, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education You can have too much of a good thing. While saving for retirement with an IRA is a good strategy, there are limits. When a contribution is not permitted in an IRA, it is an excess contribution and needs to be...
Jun 6, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary -6/3/2022 -Darren Leavitt, CFA Wall Street ended lower for the week as investors heard more hawkish rhetoric from Fed officials and economic warnings from two prominent CEOs. The holiday-shortened week produced another tranche of mixed Q1...
Jun 2, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
How to get control of what you owe For Gail and Tony Dean, the crisis came as they approached 50. Living in South Florida, they decided to move north, near Orlando, where they bought land and began to build their dream home. Then the debts piled up. The couple — she...
Jun 2, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: As we did 2 years ago, will we be able to skip taking a 2022 required minimum distribution (RMD) without penalties? Answer: Sorry, but RMDs are in full effect for 2022. The CARES Act waived RMDs in 2020, but that was a...
Jun 1, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Usually, rollovers involving 401(k) accounts and IRAs involve moving dollars from a plan to an IRA. But sometimes it makes sense to instead do a “reverse rollover” – from an IRA to a 401(k). Let’s get some bad news out of the way:...
May 30, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary -5/27/2022 -Darren Leavitt, CFA Happy Memorial Day, and thank you to all that have served our great country. Global financial markets rallied as buy the dip investors finally showed up on Wall Street. US Markets were especially strong after...
May 26, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: I am 79 and make SEP-IRA withdrawals annually as required. I also have several regular (non-IRA) accounts. One fund I own throws off tremendous taxable capital gains every year. Is there any way I can...
May 25, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
5 things loved ones will have to do to settle your accounts How many times have you told your loved ones that you don’t want to be a burden, and saddle them with a financial mess at the end of your life? It’s a common sentiment. Despite their good intentions, however,...
May 24, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Why is it so important to know how the once-per-year rollover rule works? Well, that is because trouble with the once-per year rule is the kind of trouble no one wants! An IRA owner who violates this rule is...
May 23, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary -5/20/2022 -Darren Leavitt, CFA US markets continued to sell off while developed international and emerging markets traded higher. Disappointing Q1 earnings results from the retailers cast some doubt on the health of the US consumer and...
May 20, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Hi, I am age 50 and am targeting retirement at age 55. My current employer is selling the division I work for, and I see the potential that I could be laid off at, say, 52. If this were to happen, could I join a new employer...
May 20, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Employees leaving their jobs are often surprised to discover they aren’t entitled to the full balance of their company plan account. The reason is that some plans impose a vesting rule on certain types of contributions. What do the...
May 20, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Last week in Kansas City, the Ed Slott team hosted our first in-person training program for members of our Elite Advisor Group since late 2019. While we managed to stay in contact with everyone via virtual meetings for the last two...
May 20, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: I have a 401(k) that I’d like to use a portion for a QCD. I understand that QCD’s have to be from an IRA. Can I move a portion to an IRA for the QCD? How will this affect my RMD from my 401(k)? Federal tax...
May 20, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education The real estate market is red hot right now. This can be especially challenging for first time home buyers. IRA savings are intended to be used for your retirement. However, if you are like many others, your IRA...
May 20, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
The answer: $1,000 more than you could in 2021 A 401(k) plan is a great way to increase your retirement savings. Your employer will deduct your pretax contributions from your paycheck, and your savings will be tax-deferred until you take withdrawals during retirement....
May 16, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
For many financial documents, just 3 years — for others, practically forever You may be starting at a heap of paperwork when you finish filing your 2021 federal taxes, which are due April 18. Your first urge may be to sweep them all into a paper bag and put the bag...
May 16, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary -5/13/2022 -Darren Leavitt, CFA Investors endured another tough week as financial markets continued to digest robust inflation data, mixed Q1 earnings, and fears that global growth will continue to slow. Economic data was centered on the...
May 9, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Just when we thought we understood the new IRS regulations on required minimum distributions (RMDs), here comes more uncertainty. As we have reported, the IRS threw everyone a curveball with its interpretation of the 10-year payout rule...
May 8, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary -5/6/2022 -Darren Leavitt, CFA It was an extremely busy and volatile week on Wall Street. The Federal Reserve’s May FOMC meeting statement was top of mind for investors and came in as expected. However, post statement Q&A added...
May 5, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
You’ll get better savings rates but higher borrowing costs this year The Federal Reserve is raising borrowing costs to cool the hottest inflation readings in 40 years. The Fed on Wednesday hiked its key short-term fed funds rate to a range of 0.75 to 1 percent,...
May 5, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: I am 75 years old and contributing to my company’s 401(K) plan. I have not taken an RMD from my 401(K) utilizing the “still-working exception.” I just retired on April 30, 2022. My question is: Do I have...
May 4, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Qualified charitable distributions (QCDs) continue to gain popularity, and with that popularity comes more questions. Here are a dozen QCD facts that will keep you on the straight-and-narrow with your QCD transactions: 1. QCDs are...
May 2, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Recently, Fidelity investments made headlines by announcing that it would allow retirement savers to put Bitcoin in their 401(k)s. Cryptocurrency has been all over the news, and you may be wondering if it would be...
May 2, 2022 | Market Review and Outlook
Monthly Market Commentary – April ’22 -Darren Leavitt, CFA Global financial markets had a rough month in April. Inflation continued to be top of mind for investors as data continued to show historic increases in prices. The Federal Reserve still appears to be behind...
May 2, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Monthly Commentary – April ’22 -Darren Leavitt, CFA Global financial markets had a rough month in April. Inflation continued to be top of mind for investors as data continued to show historic increases in prices. The Federal Reserve still appears to...
Apr 28, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
There are probably thousands of articles published every day on how and why to eat well and exercise. And yes, these are critical endeavors for healthy aging. But, they don’t cover everything you need to do to live your best life for as long as possible. What might be...
Apr 28, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: I’m 68 years old. I would like to start IRA withdrawals. What are the rules for withdrawing before my RMDs are required at age 72? Thanks, Bob Answer: Bob, There are no limitations to withdrawing your IRA before RMDs...
Apr 27, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst There are three types of company savings plans: 401(k) plans if you work for a for-profit company; 403(b) plans if you work for a tax-exempt employer, a public school or a church; and 457(b) plans if you work for a state or local...
Apr 25, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst For those who have 401(k)s or other employee retirement plans (but not SEP or SIMPLE plans), the required beginning date (RBD) for when required minimum distributions (RMDs) are to begin is the same as for IRA owners – April 1 of...
Apr 25, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary -4/22/2022 -Darren Leavitt, CFA Financial asset classes had a tough week as global growth concerns were stoked by more hawkish commentary from Fed Presidents and mixed earnings results from corporate America. Economic data showed mixed results...
Apr 21, 2022 | Blog, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Benefits are going up, but so are the Medicare premiums deducted from monthly checks Social Security beneficiaries will have a lot to cheer about in 2022 — but they may have a few things to grouse about as well. Here’s a rundown of what will change for Social Security...
Apr 21, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Hello, I’m learning a lot from Ed Slott’s latest book, “The New Retirement Savings Time Bomb,” but I do have a question on 401(k) Roth IRA conversions. I’m recently retired with a company 401(k). I’m leaning towards keeping the...
Apr 20, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education For IRA-to-IRA or Roth-to-Roth 60-day rollovers, the same property received is the property that must be rolled over. These rules also apply to SIMPLE and SEP IRAs. You cannot receive a distribution of cash and...
Apr 18, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Tax Day 2022 seems like an appropriate time to review a sometimes-overlooked way to get extra dollars into your IRA or company savings plan. Folks age 50 or older are allowed to make “catch-up” contributions with no strings attached....
Apr 17, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary -4/15/2022 -Darren Leavitt, CFA First-quarter earnings season kicked off with mixed results from the financials and positive results from the airlines. The holiday-shortened week found US equities taking one step forward only to subsequently...
Apr 15, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Making a retirement plan requires more knowledge than you might think. You’ll need to understand how inflation affects your investment account; how much income Social Security provides, and how much you need to subsidize it; and how much you can withdraw from...
Apr 14, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Question: Hello, Client (72) has recently inherited a “Beneficiary IRA” account. My question is for next year: Can she use qualified charitable distributions for her beneficiary IRA? Thank you, Kathy Answer: Hi...
Apr 13, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst The deadline for filing your 2021 tax return is this Monday, April 18. It is extended through the weekend because IRS offices in Washington DC are closed on Friday, April 15, in observance of the locally recognized Emancipation...
Apr 11, 2022 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education The SECURE Act was signed into law in late December of 2019. This new law upended the rules for retirement accounts. With it came many questions, and IRS guidance was eagerly anticipated. Finally, on February 23,...
Apr 11, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary -4/8/2022 -Darren Leavitt, CFA Fed rhetoric sent yields higher across the curve, with longer duration Treasuries taking the brunt of the sell-off. Higher yields pressured growth stocks and favored defensive sectors such as the Utilities,...
Apr 7, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Question: I have a non-spousal inherited IRA account. Once I take out my RMD for the year, am I able to take out excess funds and roll those into a Roth account? Thank you. Answer: Inherited IRA accounts do not follow all the same...
Apr 6, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst A bill designed to increase savings in IRAs and company plans has passed the House of Representatives, but it’s not yet law. The bill is officially called the “Securing a Strong Retirement Act of 2022,” but many are calling it “SECURE...
Apr 6, 2022 | Blog, Financial, Financial Services Newsletter, New Weekly Newsletter, Weekly Article, Weekly Newsletter
Fixed index annuities can help you accumulate money for retirement and provide guaranteed income after you retire. A fixed index annuity may be a good choice if you want the opportunity to earn indexed interest, but don’t want to risk losing money in the market. What...
Apr 4, 2022 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst The new SECURE Act regulations, released in late February, created a firestorm of confusion and complexity. We have addressed concerns in recent Slott Report articles and will continue to do so as issues arise. However, as of now,...
Apr 4, 2022 | Weekly Market Commentarfy, Weekly Market Commentary
Weekly Market Commentary -4/1/2022 -Darren Leavitt, CFA Financial markets started the week with a strong rally on the back of what appeared to be constructive negotiations between Russia and Ukraine. However, progress was refuted as the week moved forward, and...
Apr 1, 2022 | Market Review and Outlook
Monthly Market Commentary – March ’22 -Darren Leavitt, CFA In March, global financial markets continued to be volatile, focused on the Russian/Ukraine war and inflation rates not seen in decades. Countries worldwide condemned Russia’s invasion of Ukraine...
Mar 31, 2022 | IRA Blog
By Ian Berger, JD IRA Analyst Question: Hi, I have a client that needs funds for a short period of time, so he plans to use the 60-day rollover rule to borrow money from his IRA and return it within 60 days. He has a Traditional IRA and a Roth IRA. He is under the...
