by fwsadmin | May 1, 2023 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport It’s certainly not a bad problem to have. But employees with very high compensation cannot have their retirement plan benefits based on all of their pay. Instead, the tax code allows only compensation...
by fwsadmin | Apr 27, 2023 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Question: Greetings, There seems to be a lot of conflicting information on Inherited Roth IRAs, for which I was hoping to get a definitive answer from the experts. My...
by fwsadmin | Apr 26, 2023 | IRA Blog
By Sarah Brenner, JD Director of Retirement Education If you recently converted your traditional IRA to a Roth IRA and you under 59 ½, you will want to know about the five-year rule for penalty-free distributions of converted funds from your Roth IRA. Many people are...
by fwsadmin | Apr 24, 2023 | IRA Blog
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport In my April 12 Slott Report entry (“5 Reasons to Open a Roth IRA Immediately!”), I included a handful of points as to why it was imperative to open a Roth IRA, especially before the tax filing...
by fwsadmin | Apr 20, 2023 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport Question: Can I make a qualified charitable distribution (QCD) from my IRA to pay for my grandson’s summer church camp? Susan Answer: Hi Susan, You can only make a QCD if the donation would be 100%...
by fwsadmin | Apr 19, 2023 | IRA Blog
By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport One important way that IRAs differ from company retirement plans is with respect to spousal financial rights. Most married IRA owners do not need spousal consent before designating a beneficiary other...