If so, whether or not you need it -- or even want it -- you will be legally required to start taking money out of ...

Different beneficiaries have different rules. Spouse beneficiaries will ultimately have much more flexibility with how they utilize an inherited IRA. Spouses can spread withdrawals from the account ...

Seniors are often surprised by taxes on mandatory withdrawals – Clear Start Tax explains how RMDs can increase IRS balances ...

And because RMDs are calculated at the end of the prior calendar year, a market downturn requires proportionately larger withdrawals to meet the minimum requirement.

Failure to take your RMD by the deadline could lead to an excise tax of 25%.Still working? Be sure to find out if you qualify for the still-working exception. The $23,760 Social Security bonus most ...

However, if you correct the mistake within two years, you may be eligible for a reduced penalty of 10%. Many beneficiaries might need to take RMDs from inherited retirement savings accounts even if ...

But the approach can be useful for other savings and investment goals, too, including covering long-term-care costs out of pocket. I wrote last week about how to decide how much to set aside for ...

Weathering retirement planning storms isn't about numbers, as a pilot turned financial advisor discovered after the '07 crash ...

Discover five key tax changes in the 2025 OBBBA bill that could affect your clients—from higher deductions to expiring credits—and what advisors should do.

Some financial advisors promote annuities because they offer tax deferral, guaranteed income, or principal protection. But while these features can support retirement planning, annuities often carry ...

An August 2024 Harris poll called the "Americans and Billionaires Survey" indicated that 6 in 10 Americans seek to attain great wealth in their lifetime, and they see entrepreneurship (42% ...

Retiring early requires careful planning, but a simplified one-page approach can help you stay focused on what matters most.