Wealth Management

JUNE 26, 2024

Notice 2024-55 clarifies two exceptions to the 10% additional tax.

Retirement Planning 97

Retirement Planning Distribution Retirement Planning 97

Nerd's Eye View

JANUARY 4, 2023

Financial advisors have a wide range of strategies at their disposal to create financial plans for their clients. And when it comes to retirement planning, one popular technique is the use of ‘guardrails’, which set an initial monthly withdrawal rate that can be later adjusted as the size of the client’s portfolio changes.

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Retirement Distribution Retirement Planning Asset Allocation 240

The Big Picture

FEBRUARY 27, 2023

equity valuations: “Baby-boomers’ huge flow of 401K plan contributions helped to drive equities higher; now that ~70 million Boomers are retiring, when do demographics flip this from a huge positive to a net drag?” aka The Hidden World of Failure ) (October 23, 2020) Stock Ownership : Distribution of Household Wealth in the U.S.

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Distribution Retirement Retirement Planning Taxes 325

Carson Wealth

JUNE 2, 2023

IRAs and 401(k)s are primarily designed to help fund retirement not pass wealth onto future generations. As part of that, Congress established rules that require annual distributions from tax-advantaged plans once you reach age 72, 73 or 75. Recent changes in legislation have changed this age. for those who turned 70.5

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Distribution Accounting Retirement Retirement Planning 98

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.

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Distribution Retirement Planning Taxes 98

Nerd's Eye View

JANUARY 1, 2024

This month's edition kicks off with the news that held-away asset management platform Pontera has raised $60 million in venture capital funding as advisors increasingly seek to directly manage clients' 401(k) and other outside assets – although an ongoing investigation by Washington state regulators over whether advisors' use of Pontera violates (..)

Retirement Planning 221

Retirement Planning Compliance Startup Clients 221

Getting Your Financial Ducks In A Row

NOVEMBER 7, 2022

When you have the bulk of your financial assets in retirement plans, you might accidentally expose yourself to some risks that you haven’t thought about… since retirement plan assets are much more likely to be impacted by changes to legislation – as we have seen in the past. No related posts.

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Retirement Planning Retirement Planning Accounting 72

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 245

Financial Planner CFP Financial Advisor Retirement Planning 245

Nerd's Eye View

AUGUST 2, 2023

These include tapping employer-provided resources for adoption support, seeking out grants from charitable organizations, or, if funds are very tight, taking out loans or taking distributions from retirement plans (as the SECURE Act created a new opportunity for parents to withdraw up to $5,000 from their IRAs or employer-sponsored plans without the (..)

Taxes 231

Taxes Planning Financial Advisor Strategic Planning 231

Wealth Management

DECEMBER 15, 2023

Act regarding individual retirement accounts, including changing when the first required minimum distribution can be made from the account, new rules for inhe The panel of experts will discuss and answer questions about the changes made by SECURE 2.0

Retirement Planning 101

Retirement Planning Retirement Distribution Planning 101

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. Raising the age when withdrawals must begin is great as it gives investors more planning opportunities. The Secure Act 2.0

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Distribution Tax Planning Retirement Taxes 81

Nerd's Eye View

DECEMBER 23, 2022

”, a series of measures that will have significant impacts on the world of retirement planning. Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that Congress appears poised to pass “SECURE Act 2.0”,

Financial Planner 220

Financial Planner Retirement Planning Financial Planning Budgeting 220

Nerd's Eye View

NOVEMBER 23, 2022

Among the several different types of retirement plans that are available to self-employed workers, solo 401(k) plans can offer the most flexibility and the ability to contribute the highest amount of tax-advantaged savings.

Planning 234

Planning Distribution Assets Retirement Planning 234

Nerd's Eye View

AUGUST 9, 2023

The original SECURE Act, signed into law in December 2019, changed many of the long-standing rules governing IRAs and other retirement accounts, and no single measure in the legislation had a more seismic impact on planning than the changes to the post-death distribution rules for retirement accounts.

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Accounting Retirement Distribution Government 229

Darrow Wealth Management

SEPTEMBER 19, 2024

Unlike most types of retirement plans, the SEP IRA is funded by the employer. A SEP IRA (Simplified Employee Pension Individual Retirement Account) is a type of retirement plan specifically designed for self-employed individuals and small business owners. What is a SEP IRA?

Retirement Planning 77

Retirement Planning Retirement Taxes Planning 77

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.

Financial Advisor 231

Financial Advisor Estate Planning Nonprofit Financial Planner 231

Darrow Wealth Management

AUGUST 8, 2022

” This meant annual required minimum distributions (RMDs) were out. Unless a non-spouse beneficiary qualifies for an exception¹, previous guidance stipulated that funds from an inherited 401(k), IRA, 403(b), or other qualified retirement plan (including Roth IRAs) must be taken in 10 years following the year of death.

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Distribution Taxes Retirement Accounting 79

Nerd's Eye View

NOVEMBER 1, 2023

For instance, if the client has existing IRA dollars and/or if they plan to rollover funds from a qualified account at any point during the year, backdoor Roth conversions can be complicated significantly.

Taxes 243

Taxes Accounting Clients Retirement Planning 243

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. How reviewing and adjusting capital market assumptions can help advisors refine their use of Monte Carlo simulations.

Financial Planner 181

Financial Planner Retirement Planning Compliance Retirement 181

Carson Wealth

AUGUST 23, 2022

Retirement plans like 401(k)s and traditional or Roth IRAs can be an easy and effective way to save for retirement. Contributions to a traditional 401(k), IRA, and other retirements plans are usually deductible up to a limit. However, not all retirement plan contributions are tax deductible.

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Retirement Planning Retirement Taxes Planning 52

Carson Wealth

JUNE 28, 2023

Your retirement income plan may be sending up bubbles, too, whether around Social Security, retirement account distributions, taxes or somewhere else – and these holes need to be patched up right away. So, to help your retirement plan be more airtight, let’s look at a few of the common leaks.

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Retirement Planning Retirement Planning Distribution 52

Nerd's Eye View

NOVEMBER 4, 2022

From there, we have several articles on investment planning: While I Bonds have received significant attention during the past year, TIPS could be an attractive alternative for many client situations. A survey showing how millionaires allocate their assets and the importance they place on the recommendations of their financial advisors.

Financial Planner 178

Financial Planner Financial Advisor Retirement Planning Medical 178

Your Richest Life

APRIL 15, 2024

Do you have a plan in place for your retirement? For many people, the extent of their retirement planning includes signing up for the plan at work – which is often more of a starting point than a comprehensive retirement plan. You can use multiple accounts to help boost your savings.

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Retirement Planning Retirement Planning Taxes 52

Fortune Financial

JULY 28, 2022

Anyone who owns company stock will eventually have to decide how to distribute their assets — typically when there is a job change or retirement involved. To recap, NUA is the difference in value between the price initially paid for a stock (the cost basis) and its current market value at the time it is distributed.

Taxes 98

Taxes Planning Retirement Planning Distribution 98

Nerd's Eye View

MAY 1, 2023

Rowe Price has acquired Retiree Income, the parent company of popular retirement income planning software SSAnalyzer and Income Solver, to put its resources behind developing and distributing the company’s planning tools (albeit perhaps more to its retail and employee retirement plan clients than to advisors?).

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Taxes Retirement Planning Advertising Retirement 199

Carson Wealth

AUGUST 1, 2024

Distributions from IRAs and 401(k)s are often taxable. Furthermore, once you hit age 73, you could be subject to RMDs, which can force out taxable distributions, which could cause both the dollars distributed and your Social Security benefits to be taxed. This gives people more control over their money in retirement.

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Retirement Taxes Distribution Tax Planning 143

Carson Wealth

FEBRUARY 2, 2023

Whether an employer-sponsored retirement plan is offered affects the income limits for contribution deductibility. The trade-off for tax-deductible contributions is taxable distributions. IRA distributions can occur at any time but may be subject to an additional 10% penalty if the account owner is under age 59½.

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Distribution Retirement Planning Retirement Taxes 98

MainStreet Financial Planning

DECEMBER 8, 2022

We would like to take this opportunity to remind you about your annual Required Minimum Distribution (RMD). As you may know, the Internal Revenue Service (IRS) requires that you take an annual distribution from your retirement accounts starting with the year in which you turn 72 years old and every year thereafter.

Distribution 52

Distribution Retirement Taxes Retirement Planning 52

Good Financial Cents

JANUARY 24, 2023

While they do share some similarities, there are enough distinct differences between the two where they can just as easily qualify as completely separate and distinct retirement plans. Either plan is an excellent choice, particularly if you’re not covered by an employer-sponsored retirement plan. Not exactly.

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Retirement Planning Retirement Taxes Distribution 122

Integrity Financial Planning

OCTOBER 17, 2022

Know these 3 ages that can help you get the most out of your retirement accounts. At age 50, workers with certain qualified retirement plans can make annual “catch-up” contributions in addition to their normal contributions. Some 401(k) plans allow this, and others do not. Required Minimum Distributions at age 72.

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Retirement Accounting Retirement Planning Distribution 95

Darrow Wealth Management

OCTOBER 24, 2022

For example, what’s the best time of year to take required minimum distributions, how to reinvest it, or if you can avoid paying tax on RMDs. Here are some of the most common RMD questions and planning opportunities for investors. It’s called a qualified charitable distribution (QCD). Yes, you can reinvest your RMD.

Distribution 64

Distribution Taxes Retirement Accounting 64

Carson Wealth

DECEMBER 27, 2022

As 55% of Americans say they don’t have enough saved for retirement, this bipartisan legislation primarily seeks to make it easier to contribute to retirement plans and use those funds appropriately for their needs in retirement. Required Minimum Distribution Changes. Expanded Savings Opportunities. The SECURE 2.0

Retirement 98

Retirement Retirement Planning Distribution Taxes 98

Park Place Financial

NOVEMBER 29, 2022

Retirement Planning 5 Ways to Catch Up on Retirement Planning Later in Life Schedule a Complimentary Financial Review CLICK HERE TO SCHEDULE. Retirement is a significant investment, which is why so many financial experts recommend establishing goals and starting when still a younger adult. SIMPLE 401(ks) and IRAs

Retirement Planning 52

Retirement Planning Retirement Certified Financial Planner Planning 52

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.

Taxes 84

Taxes Distribution Retirement Retirement Planning 84

Getting Your Financial Ducks In A Row

MARCH 6, 2023

On the flip side, there are certain things that you can’t do in a 401(k) (or other Qualified Retirement Plan) that you can ONLY do with an IRA while you’re under age 59½. Of course you would have to pay tax on the distribution, but otherwise you can take the money from your IRA for these purposes.

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Distribution Retirement Planning Planning Financial Advisor 92

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. Raise the required minimum distribution age. Keep in mind, matching contributions are often voluntary so it would be up to the plan as to whether to adopt this provision.

Retirement 86

Retirement Retirement Planning Distribution Taxes 86

Getting Your Financial Ducks In A Row

OCTOBER 17, 2022

Two primary goals of the IRA were to provide a tax-advantaged retirement plan to employees of businesses that were unable to provide a pension plan; in addition, to provide a vehicle for preserving tax-deferred status of qualified plan assets at employment termination (rollovers).

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Retirement Distribution Taxes Retirement Planning 90