Q. A few weeks ago, you wrote about SECURE 2.0 and some of the impactful provisions of the new law. Among them, you mentioned how the age when Required Minimum Distributions (RMDs) would need to start has increased to 73 for … [Read more...]
Using LLCs and Asset Protection Trusts for Asset Protection of Rental Property
Q. I own a rental property in Springfield, Virginia, that's just in my name. I heard the best way to protect my assets, should I be subject to a lawsuit, is by creating an LLC for my rental and deeding the house to the LLC. But I … [Read more...]
SECURE 2.0: The Biggest Changes for Retirement Savings in 15 Years!
Q. I heard that SECURE 2.0 was recently passed. It supposedly has provisions that make it easier to set aside money for unexpected emergency expenses. I also heard that it will not only help people avoid a short-term money … [Read more...]
Tens of Billions of Dollars of Benefits for Seniors Are Going Unused Every Year
Q. Inflation has gotten bad, and my wife and I have had to dip into our savings more than ever for food and other necessities. What are some ways you suggest to deal with the situation? Are there any benefits we might not be aware … [Read more...]
The Four Phases of Retirement and Leaving a Legacy
Dr. Ken Dychtwald, CEO and founder of Age Wave, is a researcher on aging and financial habits in America, author of 18 books, and one of the world’s foremost experts and visionary thinkers regarding aging and longevity. In some of … [Read more...]
Avoiding the Most Common Retirement Mistakes
Q. My wife and I are on target to retire in five years. We want to make sure we don’t make any major mistakes along the way. What, in your opinion, are some of the most common retirement mistakes and how can we avoid them? Thanks … [Read more...]
What Happens When You Inherit an IRA from a Non-Spouse?
Marty’s brother, Ed, passed away suddenly. He never got married or had children, so he passed everything, including his Individual Retirement Account (IRA), to Marty. During one of the most difficult times in his life, while … [Read more...]
After the Covid-19 Pandemic—How It Has Impacted Retirement
Jane and Steve were planning on retiring in five years. Now, a year after the COVID-19 pandemic, those plans have changed. When Steve’s business wasn’t doing well this past year, they couldn’t contribute to their retirement … [Read more...]
Are RMDs Back This Year or Will They Be Waived Again?
Q. I turned 70 in November 2019. I was planning on taking my first required minimum distribution (RMD) in May 2020 (when I turned 70½) until the government waived 2020 RMDs. Is my first RMD now due by May 2021? What about my wife, … [Read more...]
There is So Much That Seniors Need to Know About the New Coronavirus Relief Package
Q. You recently published an article about the Paycheck Protection Program (PPP) for businesses. You mentioned that there is a second stimulus check and some new benefits for seniors, but mostly elaborated on benefits for small … [Read more...]
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