Roth IRA

Peter Cade | Getty ImagesWhile inheriting money is typically a good thing, newer individual retirement account rules may leave some heirs with a smaller windfall.Thanks to the Secure Act of 2019, certain heirs now have less time to take IRA withdrawals. The law stopped the so-called stretch IRA, which allowed non-spouse beneficiaries to "stretch" distributions over their … [Read more...] about Inheriting an individual retirement account? Here’s how to avoid a tax bomb

MetroWest Daily News, The (Framingham, MA) The trove of IRS records recently uncovered by ProPublica has confirmed what many have always suspected: Billionaires often enjoy a substantially lower tax rate than the average American. They do that by claiming losses and deductions that reduce their taxable income and by holding much of their wealth in investments, which often … [Read more...] about If The Roth IRA Works For Peter Thiel, Why Not Your Clients? – InsuranceNewsNet

By Jazmin Goodwin, CNN Business Running your own business can come with many perks, like setting your own work schedule and the potential to increase your income. But without the benefits typically offered by large employers, saving up for retirement is often solely up to you. “When you are a small business owner, almost every part of your business is intertwined with your … [Read more...] about How to navigate retirement as a small business owner

By Kristi Sullivan, CFPAh, the books, debates, software applications, and gnashing of teeth around the perfect order to tap into retirement savings. Herewith, two reasons I think the conversation is overblown, followed by three ways to think about the mysterious Order of Withdrawal. Kristi Sullivan, CFPBehold, I subject myself to ignominy and disgrace in the financial community … [Read more...] about The Mysterious Order…of Asset Withdrawal

If your employer offered you a 401(k) plan and you participated, when you retire or quit for any other reason, you will have options to consider.The first option is to stay with the 401(k) plan, if the plan permits you. Here are some advantages of this option:• Federal creditor protection. Under ERISA, if you stay with the plan, the assets you have in the plan are protected in … [Read more...] about The Savings Game: What to do with your 401 (k) upon retirement | Business