Forbes: “The Justice Department is calling the ObamaCare mandate a tax. . . . it amounts to what’s likely the largest tax increase in U.S. history.
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Morningstar: “Tips on everything from tax breaks to Medicare drug benefits.” Free Money Finance: “I’ve said many times that success in managing personal finances is pretty simple: spend less than you earn over a long period of time. If this is the heart of your financial plan, it’s likely that you’ll be prosperous. That said, there is one other thing you’ll need to [...] NJ.com: “The passing of retirement accounts, including traditional IRAs, requires particular attention because of the numerous statutory dictates, including Required Minimum Distributions (RMDs).” Forbes: “the term ’stretch IRA‘ was used to describe the strategy in which a spouse, child or grandchild inherits a traditional pretax IRA and then draws out distributions (and hence tax deferral) over his or own life expectancy.” Wall St. Journal: “Should you give away your nest egg to your heirs—and then stick Medicaid with your nursing-home tab when the time comes? Outrageous though it might seem, it is a perfectly legal estate-planning strategy.” DesMoinesRegister.com: “The new year rings in a new financial planning strategy that could be right for many people: Roth IRAs. Previously, Roth individual retirement accounts were a tool only available to those who earned less than $100,000 annually, but now with the Tax Increase Prevention and Reconciliation Act of 2005, or TIPRA, [...] Wall St. Journal: “Individual retirement accounts funded with 401(k) assets count among your traditional IRA assets during a Roth IRA conversion. The language is confusing, since many custodians refer to such accounts as rollover IRAs. But they are technically traditional IRAs. Any IRA labeled as a SEP, SIMPLE or contributory is included, as well. [...] Bloomberg.com: “The Obama administration is weighing how the government can encourage workers to turn their savings into guaranteed income streams following a collapse in retiree accounts when the stock market plunged. The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the [...] Wall St. Journal: Natalie Choate, an estate-planning lawyer and retirement plan expert answers the following question: My wife and I are retired and both are covered by my medical practice’s “professional practice corporation” retirement plans. We are in the process of discarding our old wills and creating a living trust. [...] Lawyers USA: “For the first time, as of Jan. 1, 2010, individuals with an adjusted gross income of more than $100,000 can convert an existing IRA or 401(k) account into a Roth IRA. Estate planning attorneys should contact their clients about this opportunity, and lawyers should consider whether to take advantage of [...] Arizona Republic: “Take your Social Security money early? Or hold out for a bigger monthly stipend? Whether out of necessity or a fear of leaving cash on the table, most Americans aren’t waiting until the traditional retirement age of 65 to put that government check in the bank.” See also [...] Money Under 30’s article entitled “23 Things Beginners Absolutely Must Know About Saving for Retirement” has lessons for investors of all ages. “Whether you’re just starting your first ‘real job’ or have been in the workplace for a few years but haven’t gotten around to saving for retirement yet, listen [...] Wall St. Journal: Kelly Greene answers the following questions in an article dated October 24, 2009: “If I leave a Roth IRA to my wife, does she have to make required withdrawals every year? And if my wife then names our two adult children as equal beneficiaries of the same [...] Wealth Strategies Journal: “We insure our life, health, our houses, our cars, teeth, eyes, our jewelry, our art, our voices, our pets ……. why not our stocks and bonds? . . . In this article the term portfolio insurance should be reckoned the very same way as we think of insurance – [...] Wall St. Journal: “Inherited IRAs don’t work like regular IRAs. If you inherit an IRA from anyone other than your husband or wife, you can’t roll it into your own IRA. And you can’t consolidate IRAs you inherit from different people into one account.” Too many people put money in their IRA or retirement plan and then forget about it. There are important planning steps that you can take that can be beneficial to you and to your heirs. This article summarizes various IRA and retirement plan planning opportunities. The bottom line, review and [...] A reader asks Wall St. Journal writer Kelly Green the following: My wife and I are both over 65 and are doing some estate planning. Can I transfer funds from a traditional IRA to a trust without immediately being taxed? What would be the tax consequences of making the trust the beneficiary of my [...] |
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