After my recent column on the SECURE Act, a client asked, “What are you going to do about this? It makes the planning we’ve done useless.” The good news is that, while the Act will mean some retooling of estate and retirement planning strategy, it didn’t exactly make everyone’s previous planning useless.
Tag Archives | retirement accounts
A relatively radical bill moving through Congress will mostly eliminate passing on to heirs the benefits of tax-deferred and tax free IRAs. Why haven’t you heard anything about this money grab? Maybe because the bill has so much bipartisan support instead of political drama that the media is not paying attention.
If your employer offers a 401(k) or other retirement plan, contributing to that plan is a foundation of your retirement savings. However, as you approach retirement age, you might consider moving some of your retirement funds out of your employer’s plan and into an IRA at a custodian like TD Ameritrade or Fidelity.
Life insurance is an important financial planning resource. However, it is not meant as a source of income. Its primary purpose is to provide the means to replace income or to pay taxes or debts. Not everyone needs life insurance. Once you determine that you do, the next big question is how much is appropriate. […]
The Department of Labor’s groundbreaking new Fiduciary Rule may change the legal responsibilities of advisors who sell financial products for consumers’ retirement accounts. Financial services industry pundits aren’t sure whether the new rule is a giant step in the right direction or a successful dodging of a bullet by Wall Street.