IRA
Weekend Reading: SECURE 2.0 in 2023 and Beyond
The beginning of 2023 brought the official signing of the Consolidated Appropriations Act, which contains SECURE 2.0. You more than likely heard the news, but what exactly does it mean for you?
Weekend Reading: 10 Ways Secure 2.0, Part of Spending Bill, Changes Retirement Planning
Retirement provisions in the recently passed SECURE 2.0 Act offer new planning opportunities for today’s retirees, even more so than the original 2019 SECURE Act.
Weekend Reading: You Passed Roth IRA Income Limits, Where Should Your Next Dollar Go?
Roth IRAs have plenty to offer you; contributions grow tax-free, they don’t have required minimum distributions (RMDs) and you can make withdrawals on your own terms (pending the rules). However, it’s important to note that these accounts cap at a $6,000 contribution for 2022 ($7,000 if you’re age 50+) - And, they come with income limits as soon as you enter the six-figure range.
Weekend Reading: Ed Slott: Hold Off on Backdoor Roths, and More Tips for Tax Season in 2022
With new tax and retirement legislation looming ahead, it’s more important than ever to be proactive when it comes to your tax efficiency.
Weekend Reading: It's Now or Never for Backdoor Roths
The most recent proposal of the Build Back Better Plan submitted on November 19 now eliminates both the regular backdoor Roth and mega-backdoor Roth tax strategies beginning in 2022 for everyone, regardless of income.
Weekend Reading: What You Need to Know About the Confusing Roth IRA Five-Year Rule
If you’re considering converting your traditional retirement account to a Roth IRA, there are tax considerations within the “Five-Year Rule” to be aware of.
Weekend Reading: Limits of Tax Diversification and the Tax Alpha of Roth Optimization
To Roth or not to Roth? This might be a question you’ve asked yourself before, and upon comparing a Roth IRA to a traditional IRA, what makes the most sense for your hard-earned dollars often comes down to taxes.
Weekend Reading: Seven Retirement Myths Debunked
Retirement planning legends and rules-of-thumb are plentiful, but do they hold true when it comes to your hard-earned dollars?
Weekend Reading: The Mysterious Order... of Asset Withdrawal
Which accounts do you pull from first when it comes to your retirement income stream? It’s a question many retirees stress over, but in the grand scheme of things, might not be worth all the worry.
Weekend Reading: Could SECURE Act 2.0 Fix the Retirement Crisis?
What could SECURE Act 2.0 mean for your retirement strategy?
Weekend Reading: Worried About Passing Down a Big IRA? Consider a CRT
You might have heard the term 'Tax Time Bomb' and its relation to your IRA, especially after the passage of the 2019 SECURE Act. If you're planning on leaving a legacy to loved ones in the way of your IRA, having control of how those lifelong savings are dispersed has become more complicated. Learn more about how utilizing a Charitable Remainder Trust (CRT) could help maximize the future inheritance for your heirs.