CAUTION! NO ROLLOVER FOR NONSPOUSE BENEFICIARIES

By Sarah Brenner, JD IRA Analyst Did you inherit an IRA from someone who is NOT your spouse? This is not uncommon. Maybe you inherited from a sibling or a parent or a friend. If this is your situation, you will want to proceed with caution. For nonspouse beneficiaries...

DON’T FEAR THE 5-YEAR RULE

By Andy Ives, CFP®, AIF® IRA Analyst Prior to 2002, a default option for paying out required minimum distributions from an inherited IRA to a beneficiary was the 5-year rule. If the IRA owner died before their required beginning date and an election was not made in a...

BEST THING SINCE SLICED BREAD?

By Andy Ives, CFP®, AIF® IRA Analyst Roth IRAs are a wonderful way to save for retirement. A person can sock away $6,000 a year (plus another $1,000 if they are age 50 or older) and the earnings will grow tax free. Plus, most custodians allow Roth IRA dollars to be...