Retirement

  1. My husband has a 401(k) account which is 100% vested with an $8,000 balance. We are ...

    Unfortunately, the conditions under which hardship withdrawals can be made from a qualified plan, including a 401(k) plan, ...
  2. What is estate planning?

    Estate planning involves making plans for the transfer of your estate after death. Your estate is all the property that you ...
  3. My mother inherited my father's IRA. When she died, I received an account application ...

    If your brother cannot be found, you may want to check with the IRA custodian and/or the financial advisor to find out if ...
  4. What are some of the features and benefits of SEP IRAs and Roth IRAs?

    SEP IRA Established and funded by a business (including a sole proprietorship) Must be established and funded by the employer's ...
  5. I am a teacher in a public school system and I don't presently have a 403(b) plan, ...

    If you establish a 403(b) account under the school's 403(b) plan, you may roll the Traditional IRA assets to the 403(b) account. ...
  6. I am self-employed and do not need most of my IRA RMD for expenses. Can I reinvest ...

    You can use your required minimum distributions (RMDs) to fund your Roth IRA as a Roth IRA contribution. This is because ...
  7. 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. ...
  8. 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 ...
  9. 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 ...
  10. Must-Know Rules For Converting A 401(k) To A Roth

    In 2008, the IRS spelled out the details for converting employer-plan funds directly to Roth IRAs.
  11. Can I roll my 401(k) and/or IRA funds into a more liquid investment fund without ...

    Choosing your retirement plan investments requires the assistance of an expert who is able to analyze your options and to ...
  12. 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 ...
  13. 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 ...
  14. Can an IRA be used as security for a loan?

    The IRS prohibits the use of an IRA as security for a loan. If an individual borrows money against his or her IRA, the IRA ...
  15. Failing Health Could Drain Your Retirement Savings

    You may not be able to prevent illness, but it doesn't have to infect your savings.
  16. How do I go about opening up a Roth IRA?

    You may open Roth IRAs at most financial institutions, such as your local bank, your credit union, or brokerage firm. You ...
  17. Benefits for Members of the Armed Forces

    If your plans have been affected by your time in the combat zone, fear not!
  18. 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 ...
  19. What are the "certain requirements" that must be met for substantially equal periodic ...

    For substantially equal periodic payments (SEPPs), the distributions would occur from your IRA after you rollover the assets. ...
  20. My recently deceased spouse's IRA has been rolled over into mine. Does the cost basis ...

    The basis attributed to IRA assets that you inherited remains the same. Since you are a spouse beneficiary and you elect ...
  21. I withdrew funds from my Roth IRA to contribute elsewhere. How will I be taxed?

    If you close the Roth IRA now and withdraw the balance, you will be taxed on the earnings unless the distribution is qualified. ...
  22. A Look At IRA Separate Accounting Rules

    If you are a younger multiple beneficiary, make sure you understand the RMD regulations.
  23. Is my non-qualified Roth IRA distribution subject to taxes or early distribution ...

    The ordering rules must be applied to determine whether the distribution is subject to income taxes and/or the early distribution ...
  24. Can I return funds to my Traditional IRA after taking a distribution?

    If you take a distribution from your Traditional IRA, you can roll over the amount to the same Traditional IRA or another ...
  25. I'm worried about the economy and want to move my IRA funds from stocks and bonds ...

    If you move you funds from stocks and bonds to cash, the movement will not be taxable. The money is taxable only if you take ...
  26. 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 ...
  27. What kinds of investments are allowed in a qualified retirement plan, and what kinds ...

    Generally, the permissible investments for qualified plans include publicly-traded securities, real estate, mutual funds ...
  28. The company I am working for said that 401(k) contribution can be based on only straight ...

    The regulation (law) that addresses your specific question has not changed. However, both employers may be right. Here's ...
  29. Cut Your Tax Bill

    Paying your bills early or giving an extra donation now can help you come tax time.
  30. 401(k) Plans For The Small Business Owner

    If you own a business, this may be the plan for you! Find out about its benefits and eligibility requirements.
  31. Can I convert non-deductible contributions made to my Traditional IRA to a Roth IRA ...

    You can convert the contributions to a Roth IRA; however, a portion of the amount you convert to the Roth will be subject ...
  32. Common Questions About Retirement Plans

    We offer some solutions for the individual taxpayer as well as the small business owner.
  33. I do not want to totally get out of my retirement 401(k), but I want to take 72(t) ...

    The exact amount of the 72(t) distributions that you are eligible to take will be determined by your age and the IRS published ...
  34. What are the income limits for Roth IRA contributions?

    The 2007 and 2008 income limits for Roth IRA contributions are as follows: Situations 2007 2008 Individuals who are married ...
  35. 5 Retirement Plan Moves To Make Before Year-End

    Make sure all your loose ends are tied with these simple reminders and tips for your plans.
  36. 10 Steps To Retire A Millionaire

    Making this dream come true takes work, but it's well worth the effort.
  37. 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 ...
  38. Can I, without tax penalties, use the IRA I inherited from my father to buy a home ...

    If you inherited an IRA from someone who was not your spouse at the time he/she died, the amounts that you receive as a distribution ...
  39. Can I roll over a profit-sharing plan to an SEP IRA account without suffering any ...

    It depends. If the transaction is processed as a direct rollover to the SEP IRA, then no taxes will be withheld. Through ...
  40. My Traditional IRA has been converted to a Roth IRA. Can I still make a qualified ...

    If you converted the funds less than five-years ago, you will not be able to meet the qualified distribution requirements. ...
  41. Top 8 Estate Planning Mistakes

    Proper planning will help ensure that your wishes are honored and your heirs are well cared for.
  42. Pay For A College Education With Retirement Funds

    These savings vehicles may be better than college saving funds for some families.
  43. How do I get credit for my retirement plan contributions?

    There is an added incentive for adding to your retirement nest egg, if your income falls within certain limits. Under this ...
  44. The Reverse Mortgage: A Retirement Tool

    Discover another way to fund your retirement without having to make payments on a loan.
  45. The Rap On Wrap Fees For Retirement Accounts

    If your retirement account is managed under a wrap fee program, you need to consider whether you should pay the fee out of ...
  46. How long does an IRA beneficiary have to take an RMD after the IRA holder dies?

    Let's suppose the IRA holder, we'll call him Tom, dies in 2008. If Tom was required to take a required minimum distribution ...
  47. I make over $100,000/yr and my adjusted gross income precludes standard IRA contributions. ...

    With an adjusted gross income (AGI) of more than $100,000, only your eligibility to deduct contributions to a Traditional ...
  48. Can I pull out most of my assets from my IRA and use the cash as long as I replace ...

    Generally, for the distribution to be considered non-taxable, it must be rolled over (deposited) into the IRA (or another ...
  49. I plan to retire in March 2005 at the age of 59.75. When and what percentage or dollar ...

    Congratulations on retiring at the young age of 59! You may withdraw assets from your SIMPLE IRA at any time, and there is ...
  50. It's December - Do You Know Where Your IRA Statements Are?

    Don't discard these important documents with your junk mail - they may affect your taxes.
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