Dear Kiwi and Mango, I am about to retire from federal employment. Before I worked for the government, I used to work at a company where I’m almost certain I had a 401(k) that they matched. I am doing my retirement planning … [Read more...]
Print This PageCritter Corner: Benefits of Naming a Trust as an IRA Beneficiary
June 3, 2022 by
Dear Hayek, I am reconsidering who I should make the beneficiary for my IRA. I heard that there are some advantages to naming a trust instead of an individual. Is this true, and if so, why? Thanks for your help! Benny … [Read more...]
Print This Page“Back Door” Roth Conversions: Should You Convert Your Traditional IRA into a Roth IRA?
November 5, 2021 by
Q. My husband and I are hoping to retire in five years, and we’re finally ready to do our retirement planning and estate planning. We both have significant amounts in traditional IRAs and are wondering if we should consider … [Read more...]
Print This PageCritter Corner: IRS Announces Contribution Limits for IRAs in 2022
November 5, 2021 by
Dear Hayek, I heard that the Treasury Department has announced inflation-adjusted figures for retirement account savings for 2022. It seems that contribution limits are up for workplace plans. Are they also up for Individual … [Read more...]
Print This PageAvoiding the Most Common Retirement Mistakes
October 8, 2021 by
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...]
Print This PageWhat Happens When You Inherit an IRA from a Non-Spouse?
June 22, 2021 by
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...]
Print This PageAre RMDs Back This Year or Will They Be Waived Again?
January 15, 2021 by
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...]
Print This PageNow May Be a Good Time to withdraw $100K from Your Retirement Accounts, Penalty-Free!
August 7, 2020 by
Q. My wife, Patty, and I are in our late 50’s and have been hit hard by COVID-19. Luckily, neither of us got the virus, but financially, we have been struggling. I got furloughed from my job and Patty teaches yoga, and the yoga … [Read more...]
Print This PageCritter Corner: IRAs and Taxes in 2020
February 7, 2020 by
Dear Ernie and Jannette, As part of my retirement portfolio, I have IRAs. I'd like to make the most of these accounts and save money on my taxes both now and in the future. Do you have any tips that could help? Thanks! Ira … [Read more...]
Print This PageCritter Corner: New IRA Rules Close the Loopholes
August 20, 2015 by
Dear Commander Bun Bun, I heard that there are some new rules that were proposed by President Obama that IRA owners should know before planning their estate or transferring money between IRAs. Do you know about them and, if so, … [Read more...]
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