by fwsadmin | Aug 10, 2023 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: I’m age 76. My brother died in December 2022 at 84. Do I take required minimum distributions (RMDs) for the inherited account based on my age or on my brother’s age at death? Answer: Since you’re...
by fwsadmin | Aug 9, 2023 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport As already-complicated IRA rules spiral further into an abyss of confusion, it comes as no surprise that irregularities exist. Up is down and left is right. Green means stop, red means throw your...
by fwsadmin | Aug 7, 2023 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport If you’re facing the unpleasant prospect of paying college bills for the fall semester, you may be thinking of tapping into your retirement savings to help with the costs. If you’re under age 59 ½,...
by fwsadmin | Aug 3, 2023 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Question: Greetings, If I have the beneficiaries on my IRA listed as my wife (50%) and two children over 21 (50%), is my wife still able to move her half of the IRA into her existing IRA when I...
by fwsadmin | Aug 2, 2023 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Are you thinking of naming a child or grandchild as your IRA beneficiary? With the start of the SECURE Act in January 2020, the rules for inherited IRAs were upended....
by fwsadmin | Jul 31, 2023 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport There is no doubt we have written about this topic in past Slott Report entries. Possibly many times. There is also no doubt that people continue to make this same error, over and over...