A recent retiree shares lessons learned late about saving money and spending time Everyone nearing retirement has a vision of what their road will be like once they clock out of the 9-to-5. Maybe that prophecy includes regular travel, longer trips to see the...
‘So often caregivers are often unseen and unsung heroes,’ head of Centers for Medicare & Medicaid Services says Family members, often thrust into caregiving with little notice, also must navigate a complex medical system without any training or guidance. “I feel...
Question: Can an individual who is using the age 55 exception to the 10% early distribution penalty roll over a part of a 403(b) account to an IRA and leave a portion in the 403(b) to take penalty-free withdrawals? Thank you, Jamie Answer: Hi Jamie, There is no rule...
If you have an IRA and you are approaching retirement age, you have probably heard the term “required minimum distribution” (RMD). But do you know the details of how the rules work and what they mean for you? Here are five facts about RMDs that every IRA owner should...
Weekly Market Commentary – 5/24/2024 -Darren Leavitt, CFA Financial markets ended the week with mixed results. All eyes this week were on AI darling NVidia, which posted better-than-expected Q1 results and provided guidance above the consensus estimates. The...
Diabetes affects many Americans – especially seniors. In fact, around 20% of Medicare beneficiaries 65 and older have diabetes. If this is you, or someone you love, it’s important to know what Medicare will cover in terms of care, supplies and more. Learn all about...
A new study shows more Americans mulling early exit from workforce. Here’s what to look at before you leap The COVID-19 pandemic brought about a surge in early retirements that came to be called the Great Resignation. New research from the Federal Reserve Bank of New...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport We have written about this subject in the past (December 2023), but as is our philosophy here, learning is all about repetition, repetition, repetition. Surprisingly (he says with tongue...
Here’s how to get your financial house in order Forget cleaning out the closet, scrubbing the floors and washing the windows. The start of spring is an even better time to get your finances in order. “One thing on many people’s minds is cleaning. But what if you put...
KEY POINTS As wage growth outpaces inflation, Americans have reason to be more optimistic about long-term goals like retirement. But many still fear that uncertainties like a higher cost of living or U.S. government changes to the retirement system may throw them off...
Here’s how to get your financial house in order Forget cleaning out the closet, scrubbing the floors and washing the windows. The start of spring is an even better time to get your finances in order. “One thing on many people’s minds is cleaning. But what if you put...
A third face month-long delays for appointments, but most are happy with their overall care A survey of beneficiaries enrolled in both original Medicare and Medicare Advantage (MA) plans revealed a common problem: More than a third of those polled had to wait a month...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: Can a QCD (qualified charitable distribution) be made from a 401(k) plan? Thanks! Answer: No, QCDs can only be made from IRAs and inactive SEP or SIMPLE IRAs. One possible workaround would...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport It’s been over four years since the SECURE Act upended the rules for beneficiary IRA required minimum distributions (RMDs), and there’s still plenty of confusion about the new rules. The IRS did give...
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport If you are at retirement age, you might be at a high risk for excess contributions due to rollover mistakes. This is because of the rule that says that the required minimum...
-Darren Leavitt, CFA It was an extremely busy week on Wall Street. First-quarter earnings results were highlighted by Apple and Amazon. Investors encouraged by their results sent higher shares on the back of increased dividends, increased share buyback programs, and...
Inflation adjustments and the phase-in of Secure 2.0 provisions have implications for retirement savers and retirees alike. The dawning of 2024 will usher in more changes than usual on the retirement-planning front. As is typical with the turn of the calendar page,...
Medicare beneficiaries have lots of options when it comes to Medicare plans. One of the most popular choices is Medigap Plan G. It’s known for its comprehensive coverage and predictable costs. One question we often get asked is, “Does Plan G pay doctor visits?” We’ll...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: My client is terminating employment and rolling over the funds from his 401(k). He was told that the funds must be rolled over to a “rollover IRA” and kept separate from any other...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport SCENARIO: In one calendar year, Jessie completes the following transactions: 1. Takes a partial distribution from her 401(k) and does a 60-day rollover to an IRA. 2. Does a 60-day rollover...
