Category: IRA Distributions

You are going to retire when?

Just how wealthy are you? You'll want to figure that out before you make any major life decisions. Your first impulse may be to go out and buy things, but that may not be in your best interest. Even if you're used to handling your own finances, now's the...
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IRA’s What you DON’T know

What are my options if I inherit an IRA or an employer retirement savings plan account? If you don’t want the money, you can always disclaim (refuse to accept) the inherited IRA or plan funds. But if you’re like most people, you will want the money. Your first thought...
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Little Known IRA Facts You Can Use

Little Known IRA Facts You Can Use When it comes to IRAs, the tax rules get pretty complicated, to say the least. Here are five unusual IRA facts:   Military death benefits can be contributed to a Roth IRA: Help families of veterans with this one because it can...
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Getting Help from a Financial Professional

Are you suddenly on your own or forced to assume greater responsibility for your financial future? Unsure about whether you’re on the right track with your savings and investments? Finding yourself with new responsibilities, such as the care of a child or an aging parent? Facing other life events,...
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Can the IRS waive the 60-day IRA rollover deadline?

If you take a distribution from your IRA intending to make a 60-day rollover, but for some reason the funds don’t get to the new IRA trustee in time, the tax impact can be significant. In general, the rollover is invalid, the distribution becomes a taxable event, and you’re...
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Distributions from Employer-Sponsored Retirement Plans

Introduction A withdrawal of money from an employer-sponsored retirement plan is generally referred to as a distribution. When you have money in a plan maintained by your current or former employer, you need to be aware of your distribution options for several reasons. First, not every option may be...
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RMD Calculations

How Are RMDs Calculated? RMDs are calculated by dividing your traditional IRA or retirement plan account balance by a life expectancy factor specified in IRS tables. Your account balance is usually calculated as of December 31 of the year preceding the calendar year for which the distribution is required...
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