The following are penalties to avoid at all costs when contributing to or withdrawing from retirement accounts.
If you anticipate inheriting a 401(k) from a parent, a spouse or someone else, it’s important to know your options for minimizing tax liability.
The IRS is weighing a change that could leave your heirs poorer than you might hope.
Claiming Social Security before full retirement age (FRA) has consequences–namely, that you’ll get stuck with a lower monthly benefit for life.
The IRS has good news for retirees: you can now keep more money in your tax-deferred retirement accounts thanks to lower required minimum distributions (RMDs).
A person named as a transfer on death (TOD) beneficiary for an account will receive the assets held in it when the account owner dies.
Investing for retirement is one of the most important steps you can take toward building a secure financial future for you and your family. The sooner you can start, the better. Contributing to a retirement account can help you work toward your goals and may provide tax advantages to boost your progress.
More Americans are now getting married over 65 than ever before. Even though this may be a second or third marriage for many, caregivers should nevertheless be aware of certain aspects that shouldn’t be ignored amidst all the wedding plans and celebrations.
In presentations regarding essential actions individuals should take regarding inheritance, emphasis is usually placed on drafting a will. This leaves unanswered what happens to assets that do not pass by will —so called non-probate assets.
Here are some important parts of your estate plan that should be reviewed.