After a reprieve from required minimum distributions (RMDs) in 2020 due to the COVID-19 relief package in the CARES Act, RMDs return for 2021. Individuals are required to take RMDs from most retirement accounts once they turn age 72. The first distribution needs to come out by April 1 following the year you turn 72. After that first year, every following year the RMD deadline … [Read more...] about The Exception That Allows Business Owners And Employees To Delay RMDs Until Retirement
Will New Rules For Crypto Tax Reporting Accelerate Use of Crypto Retirement Accounts? – SmartAsset
Coins of various cryptocurrencies. The $1 trillion federal infrastructure bill aims to change how transactions are reported.A provision of the $1 trillion federal infrastructure bill would tighten the rules of how cryptocurrency transactions are reported, potentially prompting investors to rethink how and where they store their digital assets. If you’re integrating crypto into … [Read more...] about Will New Rules For Crypto Tax Reporting Accelerate Use of Crypto Retirement Accounts? – SmartAsset
New Department of Labor 401(k) disclosure rule kicks in Sept. 18
Time to take a new step to ensure employees remain retirement ready, courtesy of a new federal 401(k) disclosure rule. And to help, the Department of Labor (DOL) just released new FAQs that spell out the timing of its execution, effective Sept. 18. 2 new disclosures Under the new 401(k) disclosure rule, your company has two new things to provide employees with … [Read more...] about New Department of Labor 401(k) disclosure rule kicks in Sept. 18
These Are 2021’s Best Cities for New Mothers
Julia Zavalishina / Shutterstock.comEditor's Note: This story originally appeared on LawnStarter.Motherhood is tough, and some new moms could use all the help they can get where they live. Thankfully, many cities make the job easier for new moms. So, which cities are best suited for bringing that bundle of joy into the world and helping new mothers adjust to the challenges of … [Read more...] about These Are 2021’s Best Cities for New Mothers
Annuity Vs. IRA: What’s The Difference?
Retirement planning can often be a challenging and confusing process. Complex products and financial jargon make what should be a simple endeavor seem downright tortuous. Many investors turn to annuities and IRAs to plan for retirement. Let’s look at some of the key advantages and differences between these two popular options.What is an IRA?An IRA, or individual retirement … [Read more...] about Annuity Vs. IRA: What’s The Difference?
What You Need to Know About Annuities
Saving up money seems like a nuisance, but it needs to be done properly. If you do not manage your money right and plan for retirement correctly, it may not end well. From not being able to spend your retirement days the way you want to being drowned in debt. Not only that, when you pass away, you can leave a big financial scar on your family. So, what move should you make? … [Read more...] about What You Need to Know About Annuities
I retired. How much can I save to my Roth IRA?
Q. I retired in January 2021. I grossed $4,300 and I have not worked since. How much can I contribute to my existing Roth IRA for 2021?— Love to saveA. We love seeing people save for retirement.You can make a contribution because you had earned income during the year.For 2021, the maximum contribution to a Roth IRA is the lesser of your earned compensation for the year or … [Read more...] about I retired. How much can I save to my Roth IRA?
Restaurants Are Dangling Paid Vacation And Matching 401(k) But Workers Aren't Biting – WAMU – WAMU 88.5
Restaurants Are Dangling Paid Vacation And Matching 401(k) But Workers Aren't Biting – WAMU WAMU 88.5 … [Read more...] about Restaurants Are Dangling Paid Vacation And Matching 401(k) But Workers Aren't Biting – WAMU – WAMU 88.5
ASK IRA: Does Duncan Robinson’s contract make him a closer? – South Florida Sun Sentinel
A: In a previous era (actually an era not that long ago), I would agree that you can’t have a marginal defender on the floor at the close of a tight game. But the NBA game has changed, tilting toward the offensive end, and even if Duncan Robinson is giving up twos, he can compensate with his threes. Plus, I believe Duncan has grown into at least a passable defender, opponents … [Read more...] about ASK IRA: Does Duncan Robinson’s contract make him a closer? – South Florida Sun Sentinel
I’m a 39-year-old single dad with $600,000 saved — I want to retire at 50 but don’t know how. What should I do?
I am a 39-year-old single father of one 16-year-old son. I have $70,000 in liquid savings, $530,000 invested in individual retirement accounts and owe $210,000 on a home worth $500,000. I also owe about $20,000 on my car.My take-home income is $7,200 per month and my monthly expenses total about $4,000. I do not have a current retirement plan with my job as they do not … [Read more...] about I’m a 39-year-old single dad with $600,000 saved — I want to retire at 50 but don’t know how. What should I do?