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The IRS penalizes taxpayers who did not take their full required minimum distributions. IRA owners should know about the penalty and how to avoid or minimize it.
A custodial Roth IRA lets parents help a child with earned income start building long-term wealth. By starting early, children gain decades of potential tax-free growth while learning the value of sav...
Schedule a Free Financial Assessment with an experienced professional: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=free-assessment&utm_content=ym...
It usually is not a good idea to name a trust as an IRA beneficiary, because heirs often are penalized with higher taxes. There are a few exceptions to the general rule.
Before you touch your retirement fund, consider how taxes and financial aid rules change the math. In this week's Wealth Wise column, we break down the right choice.
I’ve got $ in mostly traditional IRAs I’m 63 looking to start SS at 65. I want to use interest to supplement my monthly income at retirement. What is the best place to do that? It would need to be an ...
We are still working - planning to retire very early next year. I'm at FRA; my husband will be in a couple of months. We are not yet taking SS or Medicare. With our income, we will certainly hit the I...
I've got a decent chunk saved for retirement (to the point where I'm beginning to back off on contributions a bit), but I'm still a few years out, so I have some time to make some adjustments. What ar...
Although there are advisors who suggest steering clear, there are times when clients might benefit from using a checkbook IRA to invest in alternative assets.
See average IRA balances by age for 2026, based on IRS tax data covering 71 million account holders, plus what the averages leave out. The post Average IRA Balance by Age in 2026: How Do You Compare? ...
How families can preserve valuable inherited IRA stretch treatment for a child or grandchild who needs support but doesn’t qualify for SSI or SSDI.
This week Roger talks about one of the biggest challenges retirees face today: information overload. He explains why more information doesn't always lead to better decisions and why building a great r...
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC The margin loan debate continues today on Your Money, Your Wealth® podcast number 589. Jack and Jill r...
For those who are between 59 1/2 and 65, do look into doing (some) Roth conversions within your IRA/401K accounts. If you don't, you may end up in a bind in the future. I did not do any Roth conversio...
I retired last spring at 62. My wife had already stepped back from her job the year before. We had saved, we had a plan, but the number that kept me awake was $1,280. That was the monthly quote for a ...
I'm preparing for RMDs. I normally make a series of charitable contributions, which are at least partially funded by Regular IRA withdrawals. From what I understand, QCDs can be beneficial in the foll...
This week Roger explores the idea of "digging where your feet are" and how focusing on what you can do today can reduce anxiety about the future and regret about the past. In the Retirement Toolkit, h...
This week Roger breaks down IRMAA Medicare surcharges and why retirees should understand them without letting them dominate retirement planning decisions. He explains how the income thresholds work, c...
I am thinking of rolling my 401K which has a mix of mostly Roth and the company match in pre-tax into my existing Rollover IRA and Roth IRA. It seems like it will be simpler to manage and I will be ab...
I retired from full time work with a pension that pays most of my expenses, including healthcare. I also have some part time work. If I have extra money at the end of the year from this work, should I...
What is the down-side, if any of having all your retirement accounts in one place, like Fidelity or Vanguard? I have a few rollover 401ks, a Roth and a traditional IRA scattered about. I'm thinking in...
Financial Assessment (Meet with an experienced professional): https://bit.ly/PureFreeAssessment 11 rapid-fire spitballs today from Joe Anderson, CFP®, and Big Al Clopine, CPA, on Your Money, Your Weal...
Many retirement savers will have no trouble choosing between an IRA or a trust. But experts say there are some important factors that add complication to the decision.
At both the federal and state levels, efforts are underway to give workers a retirement savings boost.
Schedule a free financial assessment with an experienced professional at Pure Financial Advsiors: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=fre...
Your spouse and children could be bumped into higher tax brackets if you leave them a substantial sum in an IRA. Partial Roth conversions now can help.
Any thoughts or advice would be appreciated. I'm 59½ years old. I've worked and saved for decades and am fortunate to be in a very strong financial position. My total portfolio is about $2.6 million, ...
When it comes to retirement savings, Roth IRAs are among the most powerful tools for achieving tax diversification and financial flexibility. Knowing how and when to tap into your Roth IRA can make a ...
Age 58, plan to retire at 63. Between retirement and when our pension and Social Security kick in (ages 68 and 70 respectively), I'll have a 5-7 year window where my portfolio needs to cover a signifi...
A new IRA marketplace will have the goal of encouraging more Americans to save for retirement, as well as offering a $1,000 contribution to those who enroll.
The established wisdom is never to touch your Roth IRA, but if it contains a large sum and you have a pension, too, here's when you should tap into it first.
When you're standing at a major financial crossroads, the timing of your decisions can mean the difference between success and failure. Joe Anderson, CFP® and Big Al Clopine, CPA spitball on the "when...
Lucky Lou is 48, burned out and wants to punch at 50. How should he bridge the gap before pensions and Social Security? Joe Anderson, CFP®, and Big Al Clopine, CPA walk through the Rule of 55, 72(t)s,...
McDreamy Dempsey wants to know if converting to Roth in the 37% tax bracket ever makes sense, and Gary in La Crosse warns Joe Anderson, CFP® and Big Al Clopine, CPA about Roth conversion "lag" and whe...
Joe Anderson, CFP® and Big Al Clopine, CPA are defusing some confusing tax time bombs today on Your Money, Your Wealth® podcast number 557. George in Torrance wants to know the smartest way to deal wi...
Joe Anderson, CFP® and Big Al Clopine, CPA spitball Roth conversions, capital gains, and retirement readiness from every angle, today on Your Money, Your Wealth® podcast number 556. Joe Momma from Vir...
I am 73 years old and have to withdraw the required RMD from my mutual fund IRA which is a fairly substantial amount. Can I hire a Certified Financial Planner to handle my RMD (i.e., Roth IRA, etc.) a...
Planning on retirement in a couple years. Long time investor - actively screening and investing into my 50s. Late 50s then switched to more of a Bogle approach, which now accounts for the majority of ...
I am 73 years old and have to withdraw the required RMD from my mutual fund IRA which is a fairly substantial amount. Can I hire a Certified Financial Planner to handle my RMD (i.e., Roth IRA, etc.) a...
I've know that RMDs can create a bigger tax burden when they start. We have a traditional IRA. I (67) am already taking SS, my husband (69) will be taking it a year from now, and since we'd consider i...
A law requires the rollover money to have been in the 529 for at least 15 years. But it isn’t clear what happens if you change the account’s beneficiary.
Take our 10-question quiz see if your hard-earned nest egg is truly protected from hidden liabilities, or if you are exposed to unexpected risks.
IRAs now hold a $9 trillion surplus over 401(k)s, largely due to rollovers. Learn how to secure your retirement savings against legal risks and hidden fees.
In spite of two divorces, two bankruptcies, and one short sale, I have been able to somehow amass about $500,000. I am going to retire at the end of this year at 66. I already started taking SS, and h...
June in Washington State is 62 with $2.5 million saved and a $350,000 pension on the table. Should she take the lump sum or the monthly check for life? Spoiler alert: there's a 3-to-1 vote in the stud...
My IRA balance is constantly variable. It’s not the same today as it was last week, last month, last year. I see rules like the 4% rule and other calculations based on account balance used as a guide ...
A mega backdoor Roth IRA allows high-income earners to potentially move tens of thousands of dollars into a tax-free retirement account. This is how it works.
IRAs form an important part of your estate plan. Give yours some attention so they work in harmony and ensure your wishes will be carried out as you intend.
Today on Your Money, Your Wealth® podcast number 580, Joe Anderson, CFP®, and Big Al Clopine, CPA, are spitballing for some folks who've done the work, hit the numbers, but aren’t sure if they can rea...
When you leave a job, you have several options for your 401(k), including leave it, roll it over to an IRA or your new 40(k), or cash it out. Each choice has different tax implications and can impact ...