by Kenny | Mar 19, 2020 | IRA BLOG
By Andy Ives, CFP®, AIF® IRA Analyst Question: A daughter who has been diagnosed with rheumatoid arthritis is listed as the beneficiary on her father’s Roth IRA. Does this disease qualify as a “chronic illness” for purposes of the exception to the 10-year rule? Is... by Kenny | Mar 18, 2020 | IRA BLOG
By Sarah Brenner, JD IRA Analyst The coronavirus has been wreaking havoc on markets and millions of retirement account balances have suffered significant losses. This has left many IRA owners looking at lower account balances after several years of gains and wondering... by Kenny | Mar 16, 2020 | IRA BLOG
By Andy Ives, CFP®, AIF® IRA Analyst When a person takes a distribution from his IRA or workplace plan, he has 60 days from the day of receipt to redeposit (i.e., roll over) those dollars into another qualified account. This assumes no other disqualifying rollovers... by Kenny | Mar 12, 2020 | IRA BLOG
By Ian Berger, JD IRA Analyst Question: Hi Ed, First of all, I’m a big fan. Now here’s my question: If I do a backdoor Roth conversion with exclusively nondeductible IRA contributions, is there a 5-year clock on withdrawing the converted dollars without... by Kenny | Mar 11, 2020 | IRA BLOG
By Ian Berger, JD IRA Analyst The amount of annual elective deferrals you can make to a 401(k) or 403(b) plan is limited by the tax code. If you discover that you’ve over-contributed in 2019, time is of the essence to correct the error. If you don’t act quickly, the... by Kenny | Mar 9, 2020 | IRA BLOG
By Sarah Brenner, JD IRA Analyst The SECURE Act eliminated the age restriction on contributions to traditional IRAs. The rule outlawing contributions for those 70 ½ or older is no more. This is good news for older IRA owners who are still working or have a spouse who...