Inheriting An IRA? Time To Learn The Ropes
While an IRA is an easy asset to inherit because it bypasses the probate process, trouble lurks beneath the surface if you are not informed.
How To Avoid A Penalty On A Late RMD When The Error Isn’t Yours
If the IRA you inherited does not have the year-of-death required minimum distribution withdrawn before the deadline, what are your next steps?
When Do I Start Taking 401(k) RMDs If I’m Over 72 And Still Working?
When working past age 72, the date of your retirement can make a big difference when it comes to taking RMDs from your current employer's 401(k) plan.
Born In Second Half Of 1949? Act By April 1 To Avoid RMD Penalty
If you turned 72 during the second half of 2021, but did not take your first RMD last year, you will need to do so by April 1 or face a 50% excise tax.
Where Are Those New RMD Tables For 2022?
If you do an online search for the new RMD tables to use for your 2022 RMD, you might find yourself going in circles. But there are ways to locate them.
Can You Contribute To A 401(k) And An IRA At The Same Time?
You can contribute to an IRA even if you also are contributing to a 401(k) plan at work, but there are some limits.
If You Are Still Working, Do You Need To Take An RMD?
If you are working for a company when you reach the age for starting RMDs from that company’s 401(k), generally, you can delay taking the RMDs until you retire.
New For 2022: Roth IRA Changes You Need To Know
The maximum Roth IRA contribution for 2022 remains $6,000 (with a $1,000 catch-up for age 50 and up), but the phase-out ranges for eligibility have changed.