7 Ways You’re Blowing Your Retirement Savings

7 Ways You’re Blowing Your Retirement Savings

If these actions sound familiar, you may want to make some changes If worrying about running out of money in retirement is keeping you up at night, you aren’t alone. Untold numbers of older adults have that concern, and for good reason. Inflation is soaring, gas...

DEADLINE FOR OPENING UP A NEW SOLO 401(K) PLAN

By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport A solo 401(k) plan is a great retirement savings vehicle for self-employed business owners with no employees (other than their spouse). But if you’re considering a new solo 401(k), be aware that...

Weekly Market Commentary

Weekly Market Commentary – 11/18/2022 -Darren Leavitt, CFA Investors continued to digest the market’s recent strength and questioned if there is more upside to the move. There was no lack of hawkish Fed speak throughout the week. St. Louis Fed President Bullard...

INHERITED IRAS AND RMD TABLES: TODAY’S SLOTT REPORT MAILBAG

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Question: Hello!  I need clarification regarding RMD statements for customers who hold inherited IRAs or inherited Roth IRAs. I have not been able to find a clear answer to the following...

NUA – TRIGGER ACTIVATORS!

By Andy Ives, CFP®, AIF® IRA Analyst The goal of the net unrealized appreciation (NUA) tax strategy is to enable a person to pay taxes on the appreciation of company stock formerly in a work plan at long term capital gain rates as opposed to ordinary income rates. The...

Weekly Market Commentary

Weekly Market Commentary – 11/11/2022 -Darren Leavitt, CFA “Bar the door Katie” What an extraordinary week on Wall Street.  Tuesday’s Midterm elections, coupled with a Crypto stalwart blow-up, were accompanied by a better-than-expected Consumer Price Index...
Should You Delay Retiring in a Down Market?

Should You Delay Retiring in a Down Market?

The answer requires a realistic look at your savings and spending Inflation is soaring and the stock market is falling, putting a wrench in many people’s retirement plans. That’s particularly true of those gearing up to retire this year. Instead of planning their...

HOW ARE 2023 RMDS CALCULATED FOR BENEFICIARIES WHO GOT RMD RELIEF ?

By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport As we’ve reported, the IRS recently said it would waive the 50% penalty on RMDs missed in 2021 and 2022 for IRA beneficiaries subject to the 10-year payout rule who inherited in 2020 or 2021. These...

IRA TRANSACTIONS THAT CAN BE MISSED

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on Twitter: @theslottreport Not every IRA transaction is easily identifiable. Some require a little legwork to reveal or report what occurred. Some transactions are not even labeled on official IRS tax forms and can go...

Weekly Market Commentary

Weekly Market Commentary – 11/4/2022 -Darren Leavitt, CFA Wall Street incurred another week of losses as investors digested another 75 basis point rate hike from the Federal Reserve.  Hopes of a pivot away from a hawkish stance were diminished when Fed Chairman...

THE REQUIRED BEGINNING DATE IS NOW A “REALLY BIG DEAL”

By Ian Berger, JD IRA Analyst Follow Us on Twitter: @theslottreport When it comes to IRAs and workplace plans, the concept of the “required  beginning date” (RBD) is a “really big deal” again. The RBD is the first date you’re required to start required minimum...
What to Do If You Receive a Financial Windfall

What to Do If You Receive a Financial Windfall

How to prepare for those rare occasions when a large sum falls into your lap For most of your life, money comes in at a slow and somewhat steady pace. Maybe you get a paycheck every two weeks or a Social Security payment once a month. Now and then you might get a bump...

A TAX-FREE ROTH IRA DISTRIBUTION IN 5 EASY STEPS

By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Roth IRAs offer a trade-off where you pay taxes now on your contribution (or conversion) in exchange for tax-free earnings later. Don’t miss out on tax-free Roth IRA...

Weekly Market Commentary

Weekly Market Commentary – 10/28/2022 -Darren Leavitt, CFA US financial markets followed through with another week of gains as investors gravitated toward the notion that the Fed would temper its monetary policy after the November meeting. Less-than-expected...
Your Inflation Cheat Sheet

Your Inflation Cheat Sheet

Answers to your most pressing questions about the rising cost of living — past, present and future Prices crept up, then surged higher in the first half of this year. In June, the consumer price index rose to become 9.1 percent higher than it had been a year earlier —...

THE CLOCK IS TICKING ON 2022 CONVERSIONS

By Sarah Brenner, JD Director of Retirement Education Follow Us on Twitter: @theslottreport Fall is in full swing now with football, foliage, and pumpkin spice everything. The holiday season is just around the corner. Before we know it, the year 2022 will come to an...