Nerd's Eye View

NOVEMBER 15, 2024

Also in industry news this week: NASAA has proposed an amendment to its broker-dealer conduct model rule that would restrict the use of the terms “advisor” and “adviser” for broker-dealers and their registered representatives who are not also investment advisers or investment adviser representatives A recent study suggests that (..)

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Financial Planner Asset Allocation Taxes Tax Planning 246

Nerd's Eye View

SEPTEMBER 11, 2024

Among all the different types of retirement account beneficiaries, those who are the surviving spouse of the original account owner receive the most preferential tax treatment when it comes to distributing the account's assets after the owner's death. But the SECURE 2.0

Accounting 246

Accounting Retirement Distribution Taxes 246

Nerd's Eye View

FEBRUARY 15, 2023

It’s also important for other parties involved in the owner’s estate plan to be aware of their roles, and to ensure that any funds withdrawn from the HSA are still distributed according to the HSA owner’s wishes.

Distribution 246

Distribution Taxes Medical Accounting 246

Nerd's Eye View

JANUARY 29, 2025

When thoughtfully drafted, it aligns the interests of the firm's owners, sets clear expectations for operations, and establishes how profits will be distributed. The next step is establishing a profit distribution philosophy. As a foundational document, the operating agreement is essential for RIA firms.

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Distribution Government Financial Advice Planning 130

Nerd's Eye View

JANUARY 29, 2025

When thoughtfully drafted, it aligns the interests of the firm's owners, sets clear expectations for operations, and establishes how profits will be distributed. The next step is establishing a profit distribution philosophy. As a foundational document, the operating agreement is essential for RIA firms.

Distribution 130

Distribution Government Financial Advice Planning 130

Nerd's Eye View

SEPTEMBER 25, 2024

For example, if taxes were expected to rise in the future, it would be better to contribute to a Roth retirement account (which is taxed on the contribution, but not upon withdrawal) than to a traditional pre-tax account (which is tax-deductible today but is taxable on withdrawal). Read More.

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Taxes Retirement Tax Planning Accounting 246

Wealth Management

OCTOBER 19, 2022

The combined business will operate under The Standard brand, and include Securian's retirement solutions employees, management, client relationships and distribution networks.

Distribution 288

Distribution Retirement Clients Management 288

Nerd's Eye View

JUNE 26, 2024

Because of the strict limitations on when and how the 529-to-Roth rollover can be done , it has limited usefulness as a planning tool beyond its intended purpose of giving individuals with overfunded 529 plans an opportunity to reallocate some of those funds tax-free towards their retirement savings. Read More.

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Education Retirement Taxes Distribution 189

The Chicago Financial Planner

OCTOBER 21, 2021

Saving for retirement is a major undertaking for most of us. Health savings accounts (HSA) provide another vehicle to save for retirement. An HSA can serve as an additional retirement savings vehicle on top of your IRA or 401(k) to help cover healthcare and other retirement expenses. Click To Tweet.

Retirement Planning 193

Retirement Planning Accounting Retirement Planning 193

Darrow Wealth Management

NOVEMBER 11, 2024

The deductibility phase-out is based on filing status, income (MAGI), and whether or not the individual(s) are eligible to participate in a retirement plan at work. When you make a distribution, the original nondeductible IRA contribution amount isn’t included in your taxable income, but the earnings and growth from it is.

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Taxes Distribution Retirement Retirement Planning 95

Nerd's Eye View

AUGUST 23, 2023

Act, passed in December 2022, created the ability for individuals over age 70 1/2 to make a one-time Qualified Charitable Distribution (QCD) of up to $50,000 of IRA funds into a CGA, with the amount distributed to the CGA being excludable from the donor's taxable income. But the SECURE 2.0 legislation at the end of 2022.

Taxes 246

Taxes Retirement Clients Estate Planning 246

Carson Wealth

JANUARY 5, 2023

Qualified retirement plans – such as 401(k)s, 403(b)s and IRAs – offer clear tax advantages. Traditional 401(k)s, 403(b)s, and IRAs offer a tax deferral on contributions and growth until distribution. One of those is the Required Minimum Distribution (RMD) rule. Jamie Hopkins, Managing Partner, Wealth Solutions. RMD Basics.

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Distribution Retirement Planning Taxes 98

Carson Wealth

JUNE 2, 2023

by Jake Anderson, Paraplanner Retirement accounts like 401(k)s and IRAs allow individuals to save for their future in a tax advantaged manner. This gives you ample time to grow your savings and investments for retirement. IRAs and 401(k)s are primarily designed to help fund retirement not pass wealth onto future generations.

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Distribution Accounting Retirement Retirement Planning 98

The Big Picture

FEBRUARY 27, 2023

Recall last week , we were discussing thinking about the impact of retiring Baby Boomers on the equity markets and of rising rates on housing. The demographic question touches on a big issue: $6 trillion dollars in 650,000 (401k) retirement plans held by 10s of millions of Americans.

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Distribution Retirement Retirement Planning Taxes 325

Carson Wealth

MARCH 7, 2024

By Jake Anderson, CFP ® , Wealth Planner When helping clients begin retirement planning, the same questions often arise: What should my retirement plan look like? Your lifestyle, goals, family situation, and risk tolerance will give a unique signature to your retirement plan. How much should I be saving?

Retirement Planning 143

Retirement Planning Retirement Planning Risk Tolerance 143

Carson Wealth

DECEMBER 20, 2024

You can move these large stock holdings to a DAF, get the tax break, and then use the money to make donations every year through your retirement. Donate Your Required Minimum Distributions If youre 73 or older, required minimum distributions (RMDs) are kicking in.

Financial Planning 109

Financial Planning Planning Estate Planning Taxes 109

Nerd's Eye View

DECEMBER 28, 2022

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019, brought a wide range of changes to the retirement planning landscape, from the death of the ‘stretch’ IRA to raising the age for Required Minimum Distributions (RMDs) to 72. In addition, SECURE 2.0

Tax Planning 246

Tax Planning Planning Taxes Retirement Planning 246

Nerd's Eye View

DECEMBER 28, 2022

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019, brought a wide range of changes to the retirement planning landscape, from the death of the ‘stretch’ IRA to raising the age for Required Minimum Distributions (RMDs) to 72. In addition, SECURE 2.0

Tax Planning 246

Tax Planning Taxes Planning Retirement Planning 246

Nerd's Eye View

JULY 24, 2024

When the original SECURE Act was passed in December 2019, it brought sweeping changes to the post-death tax treatment of qualified retirement accounts.

Distribution 190

Distribution Accounting Retirement Tax Planning 190

Darrow Wealth Management

JANUARY 30, 2023

just upended retirement planning…again. The age when retirees must begin drawing from non-Roth retirement accounts increases to 73 in 2023, then 75 in 2033. However, it doesn’t mean that delaying IRA distributions is the right move for everyone. The IRS may also require annual distributions during this window.

Distribution 95

Distribution Tax Planning Retirement Taxes 95

The Big Picture

SEPTEMBER 6, 2023

It was made as an independent film because none of the studios were interested: Nobody wanted to finance it; once it was financed, no one wanted to distribute it; even after a distribution deal was inked, no one wanted to show it or review it. But it almost wasn’t made at all.

Distribution 306

Distribution Retirement Sales 306

Advisor Perspectives

NOVEMBER 13, 2023

Research on tax-efficient retirement distribution strategies aims to sequence withdrawals from taxable, tax-deferred, and tax-exempt accounts to maximize after-tax spending.

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Taxes Retirement Management Distribution 126

Carson Wealth

MARCH 28, 2024

Retirement planning is a journey that generally takes decades to complete and most of us start out along the do-it-yourself path. More than likely, your first step was to enroll in an employer-provided plan such as a 401(k) or setting up an individual retirement account, also known as an IRA. Are you financially ready for retirement?

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Retirement Planning Retirement Planning Taxes 141

Abnormal Returns

MAY 24, 2023

wsj.com) Aging What you can learn from a 'retirement mastermind group.' humbledollar.com) Distributions What do required minimum distributions measure? (peterlazaroff.com) Trusts What is the difference between a personal representative and trustee? obliviousinvestor.com) When should you name a professional trustee?

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Distribution Financial Planning Education Retirement 245

Nerd's Eye View

JANUARY 13, 2023

From there, we have several articles on retirement planning: The latest rules for 2023 Required Minimum Distributions from inherited retirement accounts. Why relying on Treasury Inflation-Protected Securities (TIPS) to support the bulk of retirement income needs could be risky.

Financial Planner 241

Financial Planner Retirement Planning Retirement Compliance 241

Nerd's Eye View

AUGUST 7, 2024

Although the 'one big pot' mindset might be the simplest approach to estate distribution, it may not be the one that results in the most wealth being passed down or the most equitable distribution of assets between each beneficiary. Read More.

Estate Planning 246

Estate Planning Taxes Assets Planning 246

Darrow Wealth Management

AUGUST 8, 2022

The passing of the 2019 Secure Act changed the rules about when non-spouse beneficiaries must begin taking money from inherited retirement accounts. ” This meant annual required minimum distributions (RMDs) were out. Another key aspect that the 2019 Secure Act changed was the required minimum distribution age.

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Distribution Retirement Taxes Accounting 92

Getting Your Financial Ducks In A Row

APRIL 3, 2023

We’ve covered a lot of ground with regard to how various tax laws impact your retirement plans: pensions, IRAs, 403(b) and 401(k) plans. State Tax The big deal with state tax laws and retirement plans is that some states have special tax deals for money inside of retirement plans.

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Retirement Planning Retirement Planning Taxes 113

Nerd's Eye View

DECEMBER 15, 2023

Also in industry news this week: Most businesses that operate in the U.S., Also in industry news this week: Most businesses that operate in the U.S., Also in industry news this week: Most businesses that operate in the U.S.,

Financial Planner 246

Financial Planner Retirement Taxes Insurance 246

Nationwide Financial

AUGUST 24, 2022

Key Takeaways: Preparing for retirement is important. Knowing their monthly expenses, social security plans, long term tax implications, and more can be important steps in helping clients prepare for retirement. Like a lot of people my age, I find myself thinking more and more often about retirement these days. We all know that.

Retirement 122

Retirement Planning Taxes Retirement Planning 122

Nerd's Eye View

APRIL 19, 2024

Also in industry news this week: The Office of Management and Budget (OMB) has completed its review of the Department of Labor's new "fiduciary rule ", indicating that it could be released in the coming days or weeks (though, like its predecessors, its ultimate disposition is likely to be determined in the courts) The IRS announced this week that it (..)

Financial Planner 246

Financial Planner CFP Financial Advisor Retirement Planning 246

Darrow Wealth Management

SEPTEMBER 11, 2024

Here are the distribution rules. If you’ve just inherited a retirement account like an IRA or 401(k) from a parent, sibling, or relative, you may be unsure about what your options are and what to do next. The change won’t impact anyone who inherited a retirement account during 2019 or years prior.

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Accounting Retirement Distribution Taxes 94

Abnormal Returns

AUGUST 10, 2022

ofdollarsanddata.com) 15 reasons you may regret an RV in retirement. whitecoatinvestor.com) How to use in-kind distributions for RMDs. (awealthofcommonsense.com) 'Dying with zero' is a worthy goal, that is difficult to accomplish in practice. kiplinger.com) An example of putting an emergency fund into action. humbledollar.com).

Distribution 246

Distribution Financial Planning Retirement Accounting 246

Nerd's Eye View

JANUARY 31, 2024

In late 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, introducing several significant changes to retirement planning. This allows the account to grow on a tax-deferred basis, with income to beneficiaries being taxed when distributions are made.

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Financial Advisor Estate Planning Nonprofit Financial Planner 246

MainStreet Financial Planning

FEBRUARY 22, 2024

Managing cash flow in retirement is a crucial aspect of financial planning that can feel daunting after decades of receiving regular paychecks. Consider new expenses like healthcare before Medicare coverage begins and subtract any expenses that will no longer apply in retirement, such as commuting or work-related clothing.

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Retirement Management Financial Planning Taxes 98

Carson Wealth

AUGUST 1, 2024

As you move toward retirement, you can’t be content just to accumulate assets. You need to develop a retirement income plan that can help guide you when it comes time to turn savings into sustainable retirement income. of Social Security benefits are paid to retired workers and their dependents.

Retirement 142

Retirement Taxes Distribution Tax Planning 142

Darrow Wealth Management

DECEMBER 23, 2022

Congress is once again poised to make sweeping changes to the retirement and tax rules in the last two weeks of the year. retirement changes. retirement changes. Raise the required minimum distribution age. In the bill, Roth 401(k) plans would also be freed of mandatory distributions starting in 2024.

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Retirement Retirement Planning Distribution Taxes 99