7 Things Your IRA Custodian Won't Tell You

It is important to know what your IRA custodian will tell you and what they will not or cannot tell you. The I in IRA stands for individual and many times it is up to the individual to know things or keep track of them. 1. 60-Day Rollovers – An IRA custodian will not remind…

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Hardship and Retirement Distributions–No Free Pass

A very common mistake on the part of IRA owners and plan participants is thinking that distributions taken because of their financial difficulties are tax and penalty free. Hardship Withdrawals There is no hardship withdrawal from an IRA. You have access to your IRA funds at any time, for any reason. There is a hardship…

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Six Things to Know About the Year-End Account Balance Used for RMDs

We live in a fast-paced world, and sometimes it isn’t very easy to remember every little exception to various rules, including the rules regarding Required Minimum Distributions (RMDs). This article from Ed Slott and Company will help you to better understand and gain knowledge of  the RMD rules and exceptions.  1. General Rule As a…

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The High Cost of IRA Mistakes

So you think you don’t need/can’t afford an advisor? Have you considered the cost of making IRA mistakes? Even seemingly simple transactions are subject to rules and restrictions under the tax code. Did you contribute too much by mistake? This mistake cannot be corrected by simply withdrawing the excess amount. There are rules on how…

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