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Posts Tagged ‘IRA’
RMD 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 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 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…
Read MoreWhat's Your IRA Worth?
Many IRA owners invest in assets other than the usual stocks, bonds, cash, and mutual funds. In fact, the tax code allows for IRAs to invest in just about anything out there except for collectibles, life insurance, and S-corporation stock. But when you invest in those “other assets,” what are they really worth? If you…
Read MoreInheriting an Inherited IRA
What are the rules when you inherit an inherited IRA? We get this question frequently. Let’s consider what happens when using designated beneficiaries. Jim dies and names Mike as his beneficiary on the beneficiary form. Five years later Mike dies and has named Phyllis, who is a successor beneficiary, on the beneficiary form. Titling The…
Read MoreWinning at Life: How Should Newlyweds Invest Beyond Their 401ks?
On Winning at Life, Gregory Ricks and James Parker discuss a comment card from a recent Gregory Ricks Live. They are newlyweds in their 30s looking for some direction on what they should be doing now that they’ve maxed their 401ks, and would like to invest beyond that.
Read MoreWinning at Life: How to Slash Taxes on Company Stocks in Your 401k
On Winning at Life, Gregory Ricks and James Parker explain how a rarely used rule called Net Unrealized Appreciation can dramatically reduce the tax burden of getting stocks out of your company plan.
Read MoreWinning at Life: Should I Use My Retirement Savings to Buy a Home?
Trevor from Coconut Creek, Florida calls Winning at Life to ask Gregory about using his retirement savings to buy a new house.
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