Inheriting an IRA or Employer-Sponsored Retirement Plan
When the account owner of a traditional individual retirement account (IRA) or employer-sponsored retirement plan dies, the remaining funds in the account pass to the named beneficiary (or beneficiaries). Unlike many other inherited assets, these IRA or plan funds typically pass directly to the beneficiary without having to go through probate. (Probate is the court-supervised […]
Roll Over the Remaining Interest of an Inherited IRA or Retirement Plan
If your spouse dies and you are a primary beneficiary of their traditional IRA or retirement plan account, you may be able to roll over the inherited funds to your own traditional IRA or plan account. This is generally true even if your deceased spouse had begun taking required minimum distributions (RMDs) from the account, […]
Roll Over the Remaining Interest of an Inherited IRA or Retirement Plan
If your spouse dies and you are a primary beneficiary of their traditional IRA or retirement plan account, you may be able to roll over the inherited funds to your own traditional IRA or plan account. This is generally true even if your deceased spouse had begun taking required minimum distributions (RMDs) from the account, […]
4 Financial Lessons from America’s Founding Fathers
America’s Founding Fathers created the foundation of a nation like no other. Each had goals and dreams, many with high expectations of what the United States of America could become. For today’s citizens, it may be possible to look back on these men and the financial insights they used as guides for inspiration. Here are […]
What is the benefit of an employer match?
Employer matches help build your retirement nest egg.
Inheriting an IRA or Employer-Sponsored Retirement Plan
When the account owner of a traditional individual retirement account (IRA) or employer-sponsored retirement plan dies, the remaining funds in the account pass to the named beneficiary (or beneficiaries). Unlike many other inherited assets, these IRA or plan funds typically pass directly to the beneficiary without having to go through probate. (Probate is the court-supervised […]
Retirement Plan Limits for 2024
Some key limits for retirement account savers are higher in 2024.
May 29 is 529 College Savings Day, and some states are giving kids a chance to win money
On May 29, many states and financial institutions hold promotional events to raise awareness of some of the best 529 plans for college savings. A 529 plan is a state-run, tax-advantaged financial account designed to help people save on future education expenses like college and vocational school. It can help grow savings despite today’s skyrocketing […]
529 College Savings Plans: A Cheat Sheet for Common Questions
Whether your child was just born or is heading toward high school graduation, a 529 savings plan may help you put aside funds to pay for college expenses without paying taxes (federal and some states) on any dividends and gains.1 However, 529 plans have some specific rules, regulations, and restrictions that parents must know before […]
Emergency Savings or Your Retirement Goals?
Deciding which one comes first so you know where to focus your efforts When it comes to personal finance, there are a number of competing priorities that can make it difficult to determine where to focus your efforts. For many people, the choice between building emergency savings and working towards their retirement goals is one […]
