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

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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. But we’ve primarily focused on the US income tax laws (the IRS) affect your plans – and there are many nuances that you need to take into account with regard to state tax laws.

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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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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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WiserAdvisor

MARCH 13, 2024

Achieving financial freedom in retirement requires meticulous planning, dedicated effort, and strategic management. Without a solid plan, you risk drifting without direction. Within this framework, the concept of the five pillars of retirement planning emerges as a valuable strategy.

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Million Dollar Round Table (MDRT)

APRIL 1, 2025

understand the value of qualified charitable distributions (QCD). Not only does this money count toward your required minimum distribution (RMD), but the donation is made tax-free, and the funds dont count toward your total taxable income. Note: This only applies to U.S.-based

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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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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. So, let’s say you contribute money to a traditional 401(k) plan in your 20s. This gives you ample time to grow your savings and investments for retirement. for those who turned 70.5

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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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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.

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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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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?

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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.

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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 (..)

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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 (..)

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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”,

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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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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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MainStreet Financial Planning

NOVEMBER 25, 2024

Qualified charitable distributions are made directly to the eligible charity from a traditional IRA, inherited IRA, inactive Simplified Employee Pension (SEP) plan and inactive Savings Incentive Match Plan for Employees (SIMPLE) IRAs. 2025 amounts should become available later this year.

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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.

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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 (..)

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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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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.

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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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Integrity Financial Planning

OCTOBER 17, 2022

Optimizing your retirement savings takes more than just making sure your IRA isn’t at risk in this market. 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.

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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.

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Nationwide Financial

AUGUST 24, 2022

Key Takeaways: Preparing for retirement is important. But sometimes clients can use simplified tips to help them think through their plans. Knowing their monthly expenses, social security plans, long term tax implications, and more can be important steps in helping clients prepare for retirement. We all know that.

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Carson Wealth

DECEMBER 27, 2022

Act has passed, making it the largest retirement legislation since the original Secure Act hit in the late 2019. 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.

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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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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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Getting Your Financial Ducks In A Row

OCTOBER 17, 2022

In 1974, Congress passed the Employee Retirement Income Security Act (ERISA) that, among many other provisions, provided for the implementation of the Individual Retirement Arrangement. The Education IRA was also introduced, with features similar to the Roth IRA (non-deductible but tax-free upon qualified distribution).

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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. Some 457 plans can allow for Roth contributions and in-plan rollovers.

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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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Carson Wealth

MARCH 29, 2023

The same is true of retirement planning – if you zero in on your portfolio and nothing else, you’ll miss out on some major factors that can make a significant difference in your retirement and ultimately your bottom line. Taxes can be a huge drain on your retirement funds, and you need to be proactive about planning for them.

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Integrity Financial Planning

MAY 8, 2023

You may know plenty about the differences between traditional IRAs and Roth IRAs, as well as the risks to your IRAs in this market, but what happens to an IRA (or other retirement account) that still has money in it when its owner passes away? 2] You can recieve the inherited IRA in your name and take distributions over the next 10 years.

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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.

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Darrow Wealth Management

NOVEMBER 20, 2023

If you think retirement planning moves stop at retirement, think again. Although it won’t make sense in every situation, retirement can be a unique opportunity for Roth conversions for some investors. For high earners, converting an IRA to a Roth IRA while you’re still working could be the worst time of all.

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