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Determining what to do with an old 401(k) is an important decision, but it does not have to be complicated. The Wall Street Journal recently reported about 30% of workers leaving jobs elect to cash out their 401(k) accounts and pay taxes – and often 10% penalties! Is that the smartest option?
The SECURE Act has eliminated the option of "stretching" distributions of an inherited IRA over the beneficiary's lifetime. If you have named a trust as a beneficiary of your IRA, it may be time to review, rethink, and revise.
As tax season nears, people of all ages have questions about IRAs. They may seem pretty straight-forward on the surface, but how much do you know about them? Let’s refresh your memory of IRA basics and explore some surprising facts.
Could a market correction negatively impact your retirement accounts? A self-directed IRA would provide an opportunity to incorporate non-traditional investments into your retirement portfolio, but make sure you do your research before jumping in.
You've just won $10,000. What now? It may be time to hire a professional to remove the confusion from your financial situation.
Chances are your teen isn’t thinking about saving for her retirement quite yet. But contributing now to a Roth IRA can give her a leg up on her retirement savings. Unsure if your teen will want to contribute any of her hard-earned money? No worries – anyone can contribute to a Roth IRA on her behalf. Read on for the details and what to watch out for.
Inheriting an IRA can be a blessing. Dealing with the IRS distribution rules can be a headache. Understand your options!
Given the choice, would you prefer a tax break now or a tax advantage later? The differences between 401(k) plan options can have substantial effects on your long-term financial goals.