, How To Shield Up To 25% Of Your 401k or IRA From RMDs


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Coming off your year-end scramble to make sure your RMDs were done in time?

If so, start the new year off right - shield up to 25% of your qualified money from RMDs until age 85. Take a look at the new 2020 QLAC limits.

After a nearly unanimous passage in the U.S. House of Representatives, the SECURE Act (Setting Up Every Community for Retirement Enhancement Act) has become law. The legislation was “attached” to a bipartisan spending bill with the goal of avoiding another government shutdown.

Amid COVID Crisis, Many Savers Eye Fixed-Term Annuities

A fixed term annuity provides a regular retirement income for a number of years.Pension and life insurance companies are reporting a major up tick and demand for fixed term annuities since the coronavirus outbreak started, with the number of applications almost 4 times higher in May than at the beginning of the year. The increased interest is from people who are concerned about the uncertainty COVID 19 has created as well as the ensuing stock market volatility. The coronavirus ...

Teen Drinking and Your Liability

Drinking may be a “rite of passage” for teens, but when it occurs in your home you may be held responsible for their actions.Despite the overwhelming research documenting the health and behavioral consequences of underage drinking, some parents believe that allowing minors to drink under their supervision may lead to more responsible drinking in their adult years. Other parents believe that allowing minors to drink in the home is a better alternative to drinking outside the home.Regardless ...

You May Need to Make Estimated Tax Payments If…

Have income that isn’t subject to tax withholding? Or insufficient withholdings? You may have to pay estimated taxes. You may have to make estimated tax payments if you earn income that is not subject to withholding, such as income from self-employment, interest, dividends, alimony, rent, realized investment gains, prizes, and awards. You also may have to pay estimated taxes if your income tax withholding on salary, pension, or other income is not enough, or if you had a tax liability for ...