Retirement

  1. New Option For Beneficiaries: Reversionary Annuities

    New Option For Beneficiaries: Reversionary Annuities

    This vehicle can provide survivors with guaranteed income and lower premiums.
  2. What do you do for a non-spouse beneficiary receiving a required minimum distribution ...

    What do you do for a non-spouse beneficiary receiving a required minimum distribution ...

    Unfortunately, a non-spouse beneficiary is not allowed to rollover assets from a qualified plan. Therefore, purchasing an ...
  3. If a trust is named as the beneficiary of an IRA, can the trustee of that trust become ...

    If a trust is named as the beneficiary of an IRA, can the trustee of that trust become ...

    While the IRA owner is alive, only the IRA owner can change the designated beneficiary of the IRA. Exceptions may apply if ...
  4. Can either a SEP IRA or a SIMPLE IRA be attached in a bankruptcy or malpractice action, ...

    Can either a SEP IRA or a SIMPLE IRA be attached in a bankruptcy or malpractice action, ...

    State law determines whether or not an IRA, including SEP, SIMPLEs and Roth IRAs, can be attached in any bankruptcy proceedings, ...
  5. I have several Roth IRA conversions, each with different custodians. When I spoke ...

    I have several Roth IRA conversions, each with different custodians. When I spoke ...

    It is true that at any time you may take out (distribute) the amount you converted without paying tax on the amount because ...
  6. I am making after-tax contributions to an IRA. Will I get taxed again when I withdraw ...

    I am making after-tax contributions to an IRA. Will I get taxed again when I withdraw ...

    No. Withdrawals of your after-tax contributions to your IRAs should not be taxed. However, the only way to make sure this ...
  7. What are the rules and reporting requirements  for a rollover of a required minimum ...

    What are the rules and reporting requirements for a rollover of a required minimum ...

    An RMD may be transferred between IRAs, but it may not be rolled over once distributed. If the RMD amount is rolled over ...
  8. Do I have to continue SEPPs for an inherited IRA?

    Do I have to continue SEPPs for an inherited IRA?

    You may discontinue the payments. Once the person who is taking the substantially equal periodic payment (SEPP) dies or becomes ...
  9. Why should investors pick less risky investments as they approach retirement?

    Why should investors pick less risky investments as they approach retirement?

    Investors must decide for themselves what the term "risky investment" means to them. At age 25, you may feel comfortable ...
  10. Boomers: Twisting The Retirement Mindset

    Boomers: Twisting The Retirement Mindset

    This generation must take a whole new approach to post-work planning.
  11. Business Owners: A Guide To Qualified Retirement Plan Loans

    Business Owners: A Guide To Qualified Retirement Plan Loans

    Thinking of adding a loan feature to your company's plan? Here's what you need to know.
  12. 8 Reasons To Never Borrow From Your 401(k)

    8 Reasons To Never Borrow From Your 401(k)

    Find out why dipping into your future savings can have serious consequences.
  13. Pay For A College Education With Retirement Funds

    Pay For A College Education With Retirement Funds

    These savings vehicles may be better than college saving funds for some families.
  14. Does It Still Pay To Invest In Gold?

    Does It Still Pay To Invest In Gold?

    This asset's appeal dates back thousands of years. Find out whether it can live up to the hype.
  15. Does participation in a 401(k) plan prevent an individual from contributing to a ...

    Does participation in a 401(k) plan prevent an individual from contributing to a ...

    No. An individual's participation in an employer-sponsored plan (including a 401(k) plan) does not affect his or her ability ...
  16. I am 61 years old and would like to contribute to my employer's 401(k) plan. Is there ...

    I am 61 years old and would like to contribute to my employer's 401(k) plan. Is there ...

    There is no age limit. As long as you are still employed by the company that sponsors the 401(k) plan, you may participate ...
  17. If I am no longer employed, can I roll over a 403(b) plan into an IRA?

    If I am no longer employed, can I roll over a 403(b) plan into an IRA?

    Now that you are no longer working with the (former) employer that established your 403(b) account, you may roll your 403 ...
  18. Letter Of Instruction - Don't Leave Life Without It

    Letter Of Instruction - Don't Leave Life Without It

    This simple document can take the guesswork and headache out of settling your estate.
  19. Is my husband's ex-spouse entitled to receive my spouse's retirement benefits?

    Is my husband's ex-spouse entitled to receive my spouse's retirement benefits?

    The rules vary among retirement benefits. In some cases, because you are the current spouse, you will be treated as the beneficiary ...
  20. Can an IRA beneficiary roll the IRA over into another account and designate another ...

    Can an IRA beneficiary roll the IRA over into another account and designate another ...

    It depends on the provision of the IRA plan document. Some (though very few) do not allow the designation of successor beneficiaries. ...
  21. Deducting Losses On Your IRA Investments

    Deducting Losses On Your IRA Investments

    In regular accounts in which taxes are not deferred, losses on investments can be included on your tax return. Find out how. ...
  22. Is it permissible for a 70-year-old person to buy an IRA?

    Is it permissible for a 70-year-old person to buy an IRA?

    It depends. For Roth IRAs, there are no age restrictions. For Traditional IRAs, there are no age restrictions if you are ...
  23. I am over 60 years old and have a Roth IRA to which I have made contributions for ...

    I am over 60 years old and have a Roth IRA to which I have made contributions for ...

    Because you meet the five-year requirement (i.e. it has been five years since you first established and funded a Roth IRA) ...
  24. Can I roll over my IRA assets to a sheltered Canadian plan?

    Can I roll over my IRA assets to a sheltered Canadian plan?

    It does not appear that this is an option for you. The current version of the U.S. Code and the U.S./Canada Treaty do not ...
  25. I want to purchase a five-year period certain single premium immediate annuity (SPIA) ...

    I want to purchase a five-year period certain single premium immediate annuity (SPIA) ...

    The income from a SPIA IRA is subject to the early distribution penalty unless an exception applies. As you may know, the ...
  26. Can my spouse and I use our IRAs to purchase our first home?

    Can my spouse and I use our IRAs to purchase our first home?

    IRA owners can make penalty-free distributions to buy a first home for themselves, their spouses, children, grandchildren ...
  27. Can I roll my SEP IRA into a Traditional IRA or should I convert to a Roth?

    Can I roll my SEP IRA into a Traditional IRA or should I convert to a Roth?

    Technically, the SEP IRA and the Traditional IRA are the same type of account. The only difference is that the SEP IRA is ...
  28. Top 6 Myths About Social Security Benefits

    Top 6 Myths About Social Security Benefits

    Misinformation on retirement benefits is common. We'll set the record straight.
  29. Why should I bother creating a budget?

    Why should I bother creating a budget?

    Creating and using a budget is a valuable tool for all demographics; it's not just for those who need to closely monitor ...
  30. The Top 3 Retiree Worries (And What To Do About Them)

    The Top 3 Retiree Worries (And What To Do About Them)

    Discover the most common problems retirees face, and what they can do to solve them.
  31. Common Questions About Retirement Plans

    Common Questions About Retirement Plans

    We offer some solutions for the individual taxpayer as well as the small business owner.
  32. The Pension Bill: A Wolf In Sheep's Clothing

    The Pension Bill: A Wolf In Sheep's Clothing

    Find out why the 2006 act may not be all it's cracked up to be.
  33. Be Your Own Boss By Freelancing

    Be Your Own Boss By Freelancing

    Learn the pros and cons before you bid adieu to sales meetings and power suits forever.
  34. Can you have a 403(b) and also contribute to a 401(k)?

    Can you have a 403(b) and also contribute to a 401(k)?

    Yes. You may participate in both a 403(b) and a 401(k) plan. However, certain restrictions may apply to the amount you can ...
  35. Who bears the investment risk in 401(k) plans?

    Who bears the investment risk in 401(k) plans?

    Who actually bears the investment risk in a pension plan depends on the type of pension plan that is employed. In a broad ...
  36. Mistakes In Designating A Retirement Beneficiary

    Mistakes In Designating A Retirement Beneficiary

    Make sure your beneficiary designations not only reflect your intentions but also meet the requirements to be effective. ...
  37. Can an IRA owner disclaim his widow's account but exclude one spendthrift contingent ...

    Can an IRA owner disclaim his widow's account but exclude one spendthrift contingent ...

    From your question, it appears that the widow is the sole primary beneficiary, in which case any portion properly disclaimed ...
  38. Unexpected 1099-R Form: What To Do

    Unexpected 1099-R Form: What To Do

    Did your IRA custodian report distributions you thought were non-reportable? Find out what went wrong.
  39. I converted my former IRA to a Roth for tax purposes in 1998, so even though the ...

    I converted my former IRA to a Roth for tax purposes in 1998, so even though the ...

    Because you are over age 59 ½, you will not owe any early-distribution penalty on any distributions you take from your Roth ...
  40. Can my spouse and I convert our IRAs to Roth IRAs regardless of earned income?

    Can my spouse and I convert our IRAs to Roth IRAs regardless of earned income?

    You may be eligible to convert your Traditional IRA to a Roth IRA regardless of whether you have earned income. However, ...
  41. How can I make sure that past IRS errors have been corrected?

    How can I make sure that past IRS errors have been corrected?

    It depends. If these were Traditional IRA contributions, they may be reflected on your tax return. Otherwise, you may ask ...
  42. I have several jobs. Can I contribute the maximum to multiple employer retirement ...

    I have several jobs. Can I contribute the maximum to multiple employer retirement ...

    It depends. A question such as this requires detailed information in order to provide a helpful response. Here is a general ...
  43. I didn't earn any income this year. Can I still contribute to a Roth?

    I didn't earn any income this year. Can I still contribute to a Roth?

    Wages from past years can't be used as a basis for making contributions to a Roth in the current year. In order to establish ...
  44. I just opened an IRA. What can I do to help my money grow?

    I just opened an IRA. What can I do to help my money grow?

    For individuals who are just starting to save, certificates of deposit can be a good place to start, but the interest rates ...
  45. Maxing Out Your RRSP (Canadian)

    Maxing Out Your RRSP (Canadian)

    Increasing your savings will provide tax benefits - and peace of mind.
  46. How does online banking assist with budgeting?

    How does online banking assist with budgeting?

    Setting up online banking can make a personal budget easier to manage through the use of multiple accounts or expense categories ...
  47. Failing Health Could Drain Your Retirement Savings

    Failing Health Could Drain Your Retirement Savings

    You may not be able to prevent illness, but it doesn't have to infect your savings.
  48. Retiring Early: How Long Should You Wait?

    Retiring Early: How Long Should You Wait?

    Maximize your Social Security benefits by choosing when you retire.
  49. Benefits for Members of the Armed Forces

    Benefits for Members of the Armed Forces

    If your plans have been affected by your time in the combat zone, fear not!
  50. Pension Protection Act Of 2006 Becomes Law

    Pension Protection Act Of 2006 Becomes Law

    Learn how the passed bill can help you save more for retirement.
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