Retirement Assets

Ethical Wills

We have heard about a Will – a Last Will and Testament, which names someone to take care of wrapping up our affairs and directs the distribution of our assets.  But, have you heard of an Ethical Will? What exactly is an Ethical Will?  Simply put, it is a communication to your loved ones to […]

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New Required Minimum Distribution Rules

A few years ago, the Required Minimum Distribution (RMD) rule changed from requiring distributions at the age of 70-1/2 to 72 years.  Life expectancies are increasing (sans Covid) and the Consolidated Appropriations Act of 2023 has extended the starting age for RMDs to the age of 73 for those who turn 72 after December 31, […]

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Retirement Account Differences

You hopefully have an IRA, 401(k) (or another 401 account with a different letter), pension or another type of retirement account.  But, do you know the differences?  Here is a quick look at the differences: Pension – This is something that we are seeing less and less.  Pensions are usually employer sponsored and employees receive […]

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Have You Taken Your Required Minimum Distribution For The Year?

As we are quickly approaching the end of the year, it is important to determine if you have taken your required minimum distribution from retirement-type assets.  For a financial institution to do the calculation,  process the request for the distribution and send out the distribution, bear in mind that you are not the only person […]

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Required Minimum Distributions from Retirement Accounts

Based upon your age, you may be required to take minimum distributions from your retirement assets.  If you don’t, then unlike in 2020 when the requirement was waived, failure to take your RMD may cause you to be surcharged.  And, the surcharge could be 50 percent of the amount you should have taken.  With less […]

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