There’s almost always a reckoning when the government proffers a tax break. So it is with individual retirement accounts (IRA)s, 401(k)s, and similar accounts that investors fund with pre-tax earnings.
The following are penalties to avoid at all costs when contributing to or withdrawing from retirement accounts.
It may sound like it makes sense, and it might be easier than picking a person (or two) to name, however there are some serious downsides to naming your estate as the beneficiary for your IRA.
One often unrecognized fact regarding drug pricing is the difference in bargaining power depending on what agency or group is doing the bargaining.
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.
Retirement accounts fall into a category of assets that pass to heirs directly outside of the will and are not subject to probate. That is, if the paperwork is in order.
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).
Special needs trusts can help fund quality-of-life improvements for the beneficiary, such as a phone, a trip or a private room in a group care facility.