Congress and the IRS decided that you cannot leave your pre-tax retirement savings growing forever tax-deferred, so they chose 70½ for you to begin mandatory withdrawals.
Congress increased the amount workers could contribute to their retirement plans but then realized that older workers closer to retirement were in rough shape.
Mid-year is a good time to take stock of your retirement accounts.
If you haven’t planned well for retirement you may find yourself coming up short.
Your baby just turned 17 and will be a senior this fall. What happened to all of the planning you were going to do?
Couples are marrying later in life, which means the merging two households.
If you are smart enough to start your own business, you should be smart enough to start a retirement plan as well!
The IRS and Congress allowed tax deferred growth and most times a deduction for your IRA, so they will not be happy if you want to withdraw your money before age 59½.
A Spousal IRA is an IRA funded for a spouse with little or no income by a working spouse with income.
IRAs are a very useful tool for retirement planning but not enough folks are contributing to them that are eligible to use them.