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Gregory Ricks & Associates Year In Review 2019
Year in Review We have successfully completed another exciting year at Gregory Ricks & Associates. In 2019 we were able to create a strong team and positive culture at our office. This, of course, would not be possible without our loyal clients. As we move into 2020, we commit to continue to provide our clients…
Read MoreRMD Quiz – How Well Do You Know the Rules?
If you have an IRA, you should realize that what goes in must come out. In other words, your tax deferral will not last forever. Eventually, Uncle Sam will want his share. When you reach retirement age, required minimum distributions (RMDs) will kick in. Are you prepared? Take our RMD quiz and see how…
Read MoreThe Ricks Report – October 30, 2017
The Ricks Report October 30, 2017 Numbers of $ignificance START SAVING NOW – A child born in 2017 that begins kindergarten in the fall of 2022 would attend college between the years of 2035 and 2039. If that child attended an average public in-state 4-year college and if the annual price increases for public colleges…
Read MoreAre You Over 70.5 Years Old and Still Working? Understand Your Options With RMDs: This Week’s Q&A
This week’s Slott Report Mailbag examines RMDs when you are still working past 70.5 years old and inheriting multiple IRAs. As always, we recommend you work with a competent, educated financial advisor to keep your retirement nest egg safe and secure. You can find one in your area here. Question: I have read some of your…
Read MoreA Tale of 3 Cousins and Their Inherited 401(k) Plans
This is the story of Al, Bob and Carl. Each cousin is the non-spouse beneficiary of his father’s 401(k) plan. Their fathers worked together at the local automotive factory for their entire lives and were all covered by the same plan. The default distribution option in the plan for non-spouse beneficiaries is a five-year payout.…
Read MoreOptions for a Spouse Beneficiary–Remain a Beneficiary or Retitle to Your Own Account?
Warning! The options described here are for spouse beneficiaries named on the beneficiary forms of IRA accounts. Non-spouse beneficiaries and spouses who inherit through an estate have a different sets of rules. Your spouse has died and you are named the beneficiary of their IRA. What do you do now? The IRA custodian has automatically…
Read MoreWant to Donate to Harvey Victims? Consider a QCD
As the flood waters slowly recede in the Houston area, many people are asking themselves how they can help the victims of Hurricane Harvey. For those who have IRAs and are charitably inclined a Qualified Charitable Distribution (QCD) may be one way you can help. QCD Rules Not everyone can do a QCD. A QCD…
Read More7 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…
Read MoreYou Must Play by the Rules with RMDs and QCDs: Q&A Mailbag
This week’s Slott Report Mailbag examines Roth IRA transfers, QCDs and RMDs. As always, we recommend you work with a competent, educated financial advisor to keep your retirement nest egg safe and secure. You can find one in your area here. Question: Dear Ed Slott and Company, Thank you for helping me with my question. I’m in the…
Read MoreBack to School? 10 Things You Must Know About Using Your IRA For Educational Expenses
The arrival of August means that it’s back to school time! This means it is time for new school supplies and other bigger expenses. Are you thinking about using your IRA to pay that large tuition bill? The rules can be complicated. Here are 10 things you will want to know: 1. Usually, if you…
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