by Kenny | Dec 19, 2024
Key Takeaways An Employee Benefit Research Institute survey found that more than two-thirds of retirees had outstanding credit card debt in 2024, up from 40% in 2022. Even though inflation has cooled, high prices weigh on retirees. Almost a third of retirees said they...
by Kenny | Dec 19, 2024
By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: If a client opens an IRA at age 75 and makes a contribution this year, this account would not have a required minimum distribution (RMD) for 2024, correct? Since the IRA did not exist last year, there is no...
by Kenny | Dec 18, 2024
By Sarah Brenner, JD Director of Retirement Education The IRA rollover rules are always tricky. However, if you are rolling over an IRA distribution when the calendar year changes, the rules can become especially challenging. Here are four things you need to...
by Kenny | Dec 16, 2024
By Andy Ives, CFP®, AIF® IRA Analyst Tis the season for giving, and qualified charitable distributions (QCDs) are a popular way to donate to a favorite charity. However, rules must be followed. In a recent Slott Report entry (“QCD Timing,” December 4), I...
by Kenny | Dec 15, 2024
-Darren Leavitt, CFA The Nasdaq eclipsed the 20,000 level for the first time this week as investors reengaged in buying the mega-cap technology names. Amazon, Google, Tesla, and Meta hit new highs for the year as investors heard about more advances in AI and quantum...
by Kenny | Dec 12, 2024
Key Takeaways Some provisions related to the Secure 2.0, a federal retirement law, will go into effect in 2025. Workers ages 60, 61, 62, or 63 will be able to make catch-up contributions of up to $11,250 in 2025. Workplace retirement plans such as 401(k) and 403(b)...
by Kenny | Dec 12, 2024
By Sarah Brenner, JD Director of Retirement Education Question: Can a person do a rollover from both his traditional AND Roth IRAs in the same twelve months? Best regards, Matthew Answer: Hi Matthew, The once-per-year rollover rule restricts an individual from...
by Kenny | Dec 9, 2024
By Sarah Brenner, JD Director of Retirement Education The holidays are upon us. There is shopping to do, gifts to wrap, and parties to attend. Amidst the hustle and bustle of the season, you may be forgiven if your retirement account is not at the top of your...
by Kenny | Dec 8, 2024
The S&P 500 forged another set of all-time highs as investors embraced the idea of an economy running at a pace appropriate for the Fed to consider further rate cuts. Leadership in the market toggled back to the mega-cap technology issues, with the communication...
by Kenny | Dec 5, 2024
By Ian Berger, JD IRA Analyst Question: If you continue to work past age 73, are you exempt from required minimum distributions (RMDs)? My 73 year-old wife is still working and contributing to her company’s 401(k), and she doesn’t own more than 5% of the...
by Kenny | Dec 5, 2024
Retirement Vs. Resignation: Which Is Better? There is a big difference between retirement and resignation. However, both involve leaving your place of work. If you choose to retire, you may be entitled to some social benefits such as pension and healthcare, which can...
by Kenny | Dec 4, 2024
By Andy Ives, CFP®, AIF® IRA Analyst Year after year, this topic continues to bubble up. Confusion exists over when a QCD can be done in relation to the RMD. Qualified charitable distributions (QCDs) can offset all or a portion of an RMD (required minimum...
by Kenny | Dec 2, 2024
By Ian Berger, JD IRA Analyst Get ready! Several new 401(k) provisions from the SECURE 2.0 Act kick in on January 1, 2025. One that we’ve already written about is the ability of employees to make extra catch-up contributions in a year they turn age 60, 61, 62...
by Kenny | Dec 2, 2024
By Ian Berger, JD IRA Analyst Get ready! Several new 401(k) provisions from the SECURE 2.0 Act kick in on January 1, 2025. One that we’ve already written about is the ability of employees to make extra catch-up contributions in a year they turn age 60, 61, 62...
by Kenny | Dec 1, 2024
-Darren Leavitt, CFA The holiday-shortened week saw the S&P 500 and Dow rise to new all-time highs. Investors cheered the nomination of Scott Bessent as Treasury Secretary, who is seen as a fiscal hawk and someone who will support Trump’s trade policies. US...
by Kenny | Nov 28, 2024
Charter Financial is the top wealth management firm in Naples, Florida. Our retirement planning and wealth management strategies help you build the retirement of your dreams. Here are some 2024 tax and retirement milestones you should be aware of to optimize savings...
by Kenny | Nov 27, 2024
Sarah Brenner, JD Director of Retirement Education Each year it is a Thanksgiving tradition here at the Slott Report to take a moment to give thanks for the rules that are helpful to retirement savers. There are many times when rules governing retirement accounts can...
by Kenny | Nov 25, 2024
By Andy Ives, CFP®, AIF® IRA Analyst When an IRA owner dies, what is the payout schedule for the beneficiary? The key to distinguishing the correct program (i.e., 10-year rule, stretch RMDs, 5-year rule, etc.) is to identify all the important variables. But there are...
by Kenny | Nov 24, 2024
-Darren Leavitt, CFA Markets bounced back as investors reengaged the pro-growth Trump 2.0 trade. President-elect Trump continued to fill out his cabinet and, late Friday announced Scott Bessent as his nominee for Treasury Secretary. Wall Street has endorsed Bessent,...
by Kenny | Nov 21, 2024
By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: Hello Ed Slott Team, We have a client with an IRA who wants to do a qualified charitable distribution (QCD) to a charity. The charity also has an account with the same custodian of the IRA and has asked that the...
