By Ian Berger, JD IRA Analyst Question: I am over 71 and have 2 IRAs, one in my name, the other is inherited. Can I take one RMD from the [...]
By Sarah Brenner, JD IRA Analyst If you are charitably inclined and have an IRA, you might want to consider doing a Qualified Charitable [...]
By Andy Ives, CFP®, AIF® IRA Analyst Earlier this month, a tax notification service released information declaring that “North Carolina [...]
By Sarah Brenner, JD IRA Analyst Question: Hello Ed, I have received differing views on making a 401(k) conversion to a Roth IRA. I'm a 64[...]
By Ian Berger, JD IRA Analyst Many 401(k) plans must pass two annual nondiscrimination tests: the ADP test and the ACP test. The November 11 Slott[...]
By Ian Berger, JD IRA Analyst If you participate in a 401(k) plan, you probably know about the annual limit on the amount of your [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hi Ed, My question: Is there any way to do a charitable distribution from my IRA before [...]
By Andy Ives, CFP®, AIF® IRA Analyst Hypersensitivity to caffeine - this is my affliction. So much so that I limit myself to one energy drink [...]
By Sarah Brenner, JD IRA Analyst IRAs are for saving for retirement. However, as these accounts have grown over the years, many IRA owners still [...]
By Ian Berger, JD IRA Analyst Question: I am 72 years old and converting my traditional IRA to a Roth IRA a little at a time each year. Do I [...]
By Ian Berger, JD IRA Analyst If you’re thinking about leaving your job, you may want to inquire about your company retirement plan’s vesting [...]
By Andy Ives, CFP®, AIF® IRA Analyst Buckle your seatbelt and hang on to your hat. This ride could get bumpy. We are about to embark on a [...]
By Sarah Brenner, JD IRA Analyst Question: I have a question about an IRA split between my husband and me. I got half of his retirement IRA and[...]
By Sarah Brenner, JD IRA Analyst Many individuals find themselves stepping away from a job for reasons such as raising children or being a [...]
By Ian Berger, JD IRA Analyst Contrary to urban legend, ERISA does not stand for “Every Ridiculous Idea Since Adam.” Instead, it is an acronym[...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hello, I was wondering, will incorrect information on a Beneficiary Designation form cause [...]
By Andy Ives, CFP®, AIF® IRA Analyst My wife teaches elementary school kids. Been at it for years. Long enough to have former students visit her[...]
By Sarah Brenner, JD IRA Analyst There are always questions that come up as to the correct way to handle the required minimum distribution (RMD) [...]
By Ian Berger, JD IRA Analyst Question: I turn 70 ½ this year and my last day of work was September 30, 2019. Am I required to take an RMD [...]
By Andy Ives, CFP®, AIF® IRA Analyst Retroactive adjective ret·ro·ac·tive | extending in scope or effect to a prior time or [...]
By Sarah Brenner, JD IRA Analyst Question: I attended the two-day event in Washington DC. Is there any news on the attempts in Congress to [...]
By Sarah Brenner, JD IRA Analyst October is upon us. This means fall is in full swing. Along with football, pumpkin-spice everything and stocking [...]
By Ian Berger, JD IRA Analyst Knowing your limits is important when you’re sitting in a bar and realize that you have to drive home. It’s also[...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: I am still working at age 71 and don't really need the required minimum distributions (RMDs) [...]
By Andy Ives, CFP®, AIF® IRA Analyst My son is 14. I make every effort to expose him to a wide array of cultural elements. A variety of music. [...]
By Sarah Brenner, JD IRA Analyst Retirement accounts are supposed to be for saving for retirement. If you tap your retirement savings before [...]
By Ian Berger, JD IRA Analyst Question: Here is the situation. The mother is deceased and the father is in jail. He has two minor kids that [...]
By Ian Berger, JD IRA Analyst Like cassette tapes and slide rules, defined benefit (DB) plans are becoming relics of the past. It’s estimated [...]
By Andy Ives, CFP®, AIF® IRA Analyst People stumble over themselves all the time. Bad advice is provided, misinformation gets freely [...]
By Sarah Brenner, JD IRA Analyst Question: Hello, I’ve been a follower of Ed’s expertise for over 10 years. The information has always [...]
By Sarah Brenner, JD IRA Analyst Are you questioning that IRA contribution you made for 2018? Maybe you made a Roth IRA contribution and then [...]
By Ian Berger, JD IRA Analyst If you run a small company, you may be reluctant to offer a retirement plan to your employees because of the cost of[...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Could you please direct me to information that tells me how any conversions I make from my [...]
By Andy Ives, CFP®, AIF® IRA Analyst As I write, Hurricane Dorian is pummeling the Bahamas, churning the ocean and producing catastrophic [...]
By Sarah Brenner, JD IRA Analyst The calendar is turning to September and Starbucks is once again selling pumpkin spice lattes. It’s back to [...]
By Ian Berger, JD IRA Analyst Question: Hello, I have an IRA from my deceased father. The beneficiary is my mother, but she passed on before my[...]
By Ian Berger, JD IRA Analyst Who says getting old is all bad? Once you reach a certain age, Congress rewards your longevity by letting you [...]
By Andy Ives, CFP®, AIF® IRA Analyst Every year thousands of traditional IRA account owners turn 70 ½ years old. In addition, each year [...]
By Sarah Brenner, JD IRA Analyst Question: We found a discussion on your website’s discussion board in 2011 regarding 60-day rollovers [...]
By Sarah Brenner, JD IRA Analyst IRAs have now been around for decades. This means these accounts are now being inherited by beneficiaries and [...]
By Ian Berger, JD IRA Analyst You may know that you participate in a DC retirement plan. But what exactly does that mean? (Hint: It doesn’t mean[...]
By Ian Berger, JD IRA Analyst You may know that you participate in a DC retirement plan. But what exactly does that mean? (Hint: It doesn’t mean[...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hello, I have heard Ed speak at several different Wells Fargo events and he spoke one time [...]
By Andy Ives, CFP®, AIF® IRA Analyst Just as IRA and 401(k) plans have different levels of bankruptcy protection, so too do other possessions. [...]
By Sarah Brenner, JD IRA Analyst The Setting Every Community Up For Retirement Enhancement (SECURE) Act recently passed the House of [...]
By Ian Berger, JD IRA Analyst Question: As I understand it, a contribution would be income tax free when sent directly from an IRA to a [...]
By Ian Berger, JD IRA Analyst Participating in a company plan, like a 401(k) or 403(b) plan, is a great way to save for retirement. But to make [...]
By Andy Ives, CFP®, AIF® IRA Analyst Many company retirement plans – like a 401(k) – offer company stock as an investment option. Under [...]
By Sarah Brenner, JD IRA Analyst Question: Hi Ed, I have heard conflicting reports. Would the proposed SECURE Act affect Roth IRAs? Or, is [...]
By Sarah Brenner, JD IRA Analyst You may wonder about naming your trust as your IRA beneficiary. For some that may be the way to go, but you [...]
By Ian Berger, JD IRA Analyst Sometimes it pays to go solo. For self-employed individuals looking to maximize their nest egg, a solo 401(k) [...]
By Andy Ives, CFP®, AIF® IRA Analyst By the look of everyone’s Facebook and Instagram photos, it appears we are all flying Gulfstream jets [...]
By Sarah Brenner, JD IRA Analyst It is not unusual for many workers today to have a side gig. They may have job, and it might even be full time, [...]
By Ian Berger, JD IRA Analyst Question: I read your November 29, 2017 explanation of rollovers and the time limitations. But my issue is still [...]
By Ian Berger, JD IRA Analyst Many of you who participate in a company retirement plan may have heard that the plan is “qualified” or [...]
By Andy Ives, CFP®, AIF® IRA Analyst Roth IRAs and Roth 401(k) plans are incredibly popular, and why wouldn’t they be? Both offer tax-free [...]
By Sarah Brenner, JD IRA Analyst Question: I have read your updates and shared information regarding the SECURE bill that is in the Senate [...]
By Ian Berger, JD IRA Analyst When driving your car, most of the time you’re going forward. But sometimes, like when you back into a parking [...]
By Ian Berger, JD IRA Analyst ‘Tis the season for bee stings and mosquito bites. Just like those summer irritations, 401(k) plan loans have [...]
By Sarah Brenner, JD IRA Analyst Happy 4th of July to all the loyal readers of the Slott Report! This summer holiday is a time for barbecues. This[...]
By Sarah Brenner, JD IRA Analyst Did you inherit an IRA from someone who is NOT your spouse? This is not uncommon. Maybe you inherited from a [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Your advice, articles, publications and books I’ve purchased over the years have been great [...]
By Andy Ives, CFP®, AIF® IRA Analyst Prior to 2002, a default option for paying out required minimum distributions from an inherited IRA to a [...]
By Andy Ives, CFP®, AIF® IRA Analyst Roth IRAs are a wonderful way to save for retirement. A person can sock away $6,000 a year (plus another [...]
By Sarah Brenner, JD IRA Analyst Question: I set up a Roth outside my employee retirement plan. I retired on 10-01-2018. I set up an automatic [...]
By Sarah Brenner, JD IRA Analyst The road to retirement is long. Along the way you may need or want to move your retirement funds. Maybe you are [...]
By Sarah Brenner, JD IRA Analyst Every single month since January of 2014, Billy Joel has headlined a sold-out show at Madison Square Garden. [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: I am over 70.5 and I have to take an IRA minimum distribution or else pay taxes and penalties [...]
By Andy Ives, CFP®, AIF® IRA Analyst A time machine would be cool to have. Even if it only worked on financial assets, it sure would come in [...]
By Andy Ives, CFP®, AIF® IRA Analyst The pro-rata rule is the formula used to determine how much of a distribution is taxable when an IRA [...]
By Sarah Brenner, JD IRA Analyst Question: I am a financial advisor and want to be clear on something. If a client has a SIMPLE IRA that they [...]
By Sarah Brenner, JD IRA Analyst When it comes time to calculate your required minimum distribution (RMD) from your IRA, you may wonder which life[...]
By Sarah Brenner, JD IRA Analyst SIMPLE IRAs are not so simple. One factor that makes SIMPLE IRAs tricky is that they are subject to unique rules,[...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: IRA HELP, I’ve got a client who is retiring early. He has roughly $1,000,000 in an IRA [...]
By Sarah Brenner, JD IRA Analyst The IRS has announced the 2020 inflation-adjusted limits for Health Savings Accounts (HSAs). How an HSA [...]
By Andy Ives, CFP®, AIF® IRA Analyst Employer-sponsored retirement plans, like 401(k) and 403(b) plans, have some definitive benefits vs. IRA [...]
By Sarah Brenner, JD IRA Analyst Question: I have a question about avoiding RMDs for a still-working 73 year-old in a 401k plan. I realize [...]
By Andy Ives, CFP®, AIF® IRA Analyst After a recent Ed Slott conference in Dallas, Texas, I found myself sitting in a hotel café, surrounded by[...]
By Sarah Brenner, JD IRA Analyst If you are planning on doing a 60-day rollover with your IRA funds, be sure you understand same-property rule. [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: I recently inherited a traditional IRA from my mother. I mistakenly asked for a lump sum to be[...]
By Sarah Brenner, JD IRA Analyst With college costs almost certain to keep increasing each year, parents need to explore every possible tool [...]
By Andy Ives, CFP®, AIF® IRA Analyst Roth IRAs are extremely popular, and why wouldn’t they be? Tax-free earnings over a lifetime can add up [...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: Good morning, We have a client that retired on 1/2/2019 and he was over 70.5. He was not [...]
By Jeremy T. Rodriguez, JD IRA Analyst To discourage early access to amounts invested in IRAs and company retirement plans, the IRS imposes a 10% [...]
By Sarah Brenner, JD IRA Analyst In the wake of tax reform, more IRA owners are making use of the Qualified Charitable Distribution (QCD) [...]
By Sarah Brenner, JD IRA Analyst In the wake of tax reform, more IRA owners are making use of the Qualified Charitable Distribution (QCD) [...]
By Jeremy T. Rodriguez, JD IRA Analyst Net Unrealized Appreciation (“NUA”) is a powerful tool that people with employer stock in company plans[...]
By Sarah Brenner, JD IRA Analyst Question: My sister is 72 years old and quite philanthropic. Much of her traditional IRA RMD she donates to [...]
By Sarah Brenner, JD IRA Analyst The House Ways and Means Committee recently passed the Setting Every Community Up for Retirement Enhancement Act [...]
By Andy Ives, CFP®, AIF® IRA Analyst My son does not much care for broccoli. However, he knows it is for the greater good, and I insist he grow [...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: First, thank you for the educational opportunity via the mailbag services. I'm 70 years old[...]
By Jeremy T. Rodriguez, JD IRA Analyst If the dictionary had pictures next to each word, the U.S. Tax Code would fit nicely next to the definition[...]
By Sarah Brenner, JD IRA Analyst Today is April 15, 2019. This is deadline for filing your 2018 federal income tax return, unless you have an [...]
By Andy Ives, CFP®, AIF® IRA Analyst Question: Hello, I have a question for a situation I have never come across before. I have a client[...]
By Andy Ives, CFP®, AIF® IRA Analyst Unfortunately, it happened again. Another person dove into the IRA rollover pool before checking the depth,[...]
By Jeremy T. Rodriguez, JD IRA Analyst Most people are aware of the tax concept, Required Minimum Distributions or “RMDs.” These are the tax [...]
By Sarah Brenner, JD IRA Analyst Question: I have a 60 day rollover, and basically the client has what I believe is an uneducated tax preparer.[...]
By Sarah Brenner, JD IRA Analyst Are you a small business owner or a sole proprietor? If so, you may use a Simplified Employee Pension (SEP) IRA [...]
By Andy Ives, CFP®, AIF® IRA Analyst A little house on Easy Street has one front door. It is a traditional IRA. There is a sign above the lone [...]
By Jeremy T. Rodriguez, JD IRA Analyst Question: Planning Question - for retirement plans that permit Non Roth After Tax Contributions, could [...]