Weekly Market Commentary – 9/30/2022 -Darren Leavitt, CFA Global financial markets ended a difficult month of September with losses. Worries of a systemic breakdown in financial markets were induced by the extreme sell-offs in British Gilts and the British...
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Question: When will the IRS release final regulations for RMDs on beneficiary IRAs? Kim Answer: Hi Kim, That is a great question. We have been fielding many inquiries about...
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Maybe you made a Roth IRA contribution for 2021, but your income was too high. Maybe you made a traditional IRA contribution without having any earned income. These are both...
What’s the price of happiness in your state? Can money buy happiness? According to a recent Purdue study published in the journal Nature Human Behaviour, income can correlate with emotional well-being and life satisfaction. “Globally, we find that satiation...
Weekly Market Commentary – 9/23/2022 -Darren Leavitt, CFA It was another brutal week on Wall Street as global economic growth concerns aggravated sentiment. Investors sold risk assets in the wake of several rate hikes by global central banks. The Federal Reserve...
By Ian Berger IRA Analyst Follow Us on Twitter: @theslottreport Question: Late in December, 2021, a taxpayer (under age 59 ½) takes a distribution of his (traditional, not Roth) 401(k), and has 20% withheld for Federal tax. Early in January, 2022, the full 100% of the...
Sometimes the writing is on the wall Retirement may seem untenable with inflation soaring and gas prices skyrocketing, but for some older adults, hanging on to their job can cause more harm than good. Sure, you still have money coming in, but at what price to your...
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport More and more 401(k) plans now offer Roth contributions. At the same time, Americans are changing jobs and receiving 401(k) distributions in record numbers. So, it’s a good time to review the tax...
Weekly Market Commentary – 9/16/2022 -Darren Leavitt, CFA There was no place for investors to hide this week except in cash. A hotter than anticipated Consumer Price Index (CPI) caught most of Wall Street off guard and propelled the S&P 500 to its largest...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Qualified Charitable Distributions (QCDs) are a common transaction these days, but all guidelines must be followed to ensure the QCD is valid. Recent court cases have exposed the absolute...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Question: I turn 72 in 2023. If I wait to take my first RMD until 4/1/24, do I calculate it using my IRA balance on 12/31/23 or on 12/31/22? I think 12/31/22, but do not want to assume. I...
A long and happy retirement takes more than just money. Here are seven things happy retirees do – besides dutifully saving the money they’ll need to quit the 9-to-5 grind. Retirement planning is all about numbers. It centers around one question: Do my financial assets...
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport According to many recent surveys, the fall months of September and October are overtaking June as the most popular time of year to tie the knot. If your wedding is approaching...
Weekly Market Commentary – 9/9/2022 -Darren Leavitt, CFA The holiday-shortened week felt like anything of the sort. Wall Street is back from summer break, and market action kicked right into high gear. After three straight weeks of losses that saw the S&P...
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport A recent federal court case from West Virginia illustrates that the spouse of a 401(k) participant usually has no right to prevent the plan from paying the participant a lump sum distribution....
Coronavirus scams keep coming as fraudsters follow the headlines The COVID-19 pandemic continues to fuel a parallel outbreak of coronavirus scams, many targeting older Americans. As of mid-June, the Federal Trade Commission (FTC) had logged nearly 754,000 consumer...
By Sarah Brenner, JD IRA Analyst Follow Us on Twitter: @theslottreport Question: By law I must withdraw a certain percentage from my retirement accounts to meet the required RMD. And I will have to pay income taxes on that amount. The percentage amount I must withdraw...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport This may seem like a rudimentary topic, but it is the basics that are often so confusing. A fundamental understanding of Roth IRA distributions is essential for Roth IRA owners. In a blog post...
Weekly Market Commentary – 9/2/2022 -Darren Leavitt, CFA Global financial markets continued to sell off on hawkish rhetoric from the Federal Reserve and on the realization that rates will likely be higher and in place for a longer time horizon. Cleveland Fed...
By Sarah Brenner, JD IRA Analyst Follow Us on Twitter: @theslottreport Question: Hi Mr Slott, I read somewhere but couldn’t remember where, if a person needs to withdraw an RMD but doesn’t need the money, can he convert this RMD to a Roth IRA? Thanks in...
