The IRA early withdrawal penalty is not always top of mind for IRA owners. Retirement accounts have special advantages when compared to traditional investment accounts. For example, with an IRA, the account owner incurs no annual tax liability resulting from interest, dividends, and capital gains. As long as there are no withdrawals (distributions) from the […]
What a year it has been! As we say goodbye to 2019, here’s a look back at the Top 10 personal finance posts on The Astute Advisor blog. Hopefully you find some of these articles helpful. I love reading your comments and feedback. Please don’t hesitate to reach out. You can reach me via email […]
The SECURE Act (Setting Every Community Up for Retirement Enhancement) is now the law of the land. If there’s any constant in retirement planning, it’s change. As soon as you make financial plans based on current laws, they change. This legislation, signed into law with only days left in 2019, will have significant changes in […]
2020 Retirement Plan Limits have been released by the IRS. If there’s any constant with retirement planning, it’s change. Keeping up with these changes is key to ensuring maximum benefit from your retirement plan. Therefore, if you are saving monthly in a 401(k), 403(b) or other retirement plan, you’ll need to adjust your recurring contributions. […]
A Roth IRA is an important part of a retirement plan portfolio and deserve a close look from those wanting to make the most of their financial planning. This powerful retirement planning tool was first introduced as part of the Taxpayer Relief Act of 1997 by then Senator William Roth, Jr. from Delaware. Prior to its introduction most retirement accounts […]
Mutual fund share classes can often be confusing for investors looking to save for retirement. Understanding how they work is key to making smart investing decisions. If you’re socking money away in a retirement account, the odds are you’re investing in mutual funds. Mutual funds allow investors to pool their money together and receive professional […]
Personal finance doesn’t need to be complicated. For that reason, I launched The Astute Advisor personal finance site. I was excited to reach a much broader audience. Lastly, I’ve always believed that the blog shouldn’t be my voice alone. I’m convinced my readers will benefit by hearing from other financial professionals too. Here are some […]
UTMA accounts provide a way to gift money to minor children. Contributing funds to UTMA accounts constitutes an irrevocable gift. Once you gift the funds, they must be managed for the benefit of the minor and you cannot change the beneficiary. However, there is a lot of flexibility with this type of account. The custodian […]
A Roth IRA conversion and Roth IRAs in general can be powerful tools in a retirement saver’s toolkit. The potential to accumulate a bucket of funds to be used tax free in retirement is very attractive. This is especially true when you realize how much of your 401(k) or Traditional IRAs will be taxed in […]
There is a little confusion out there regarding Roth IRA contribution limits and rollovers. Complicating matters is that contribution limitations are different for a Roth 401(k) and Roth IRA. For a Roth IRA in 2019, you are limited to $6,000. For those age 50 or older, the limit is $7,000. However, there are phase outs […]
