by Kenny | Oct 9, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport My biggest gripe with legislation is the same complaint held by most – the bulk of it is written in legalese – i.e., difficult-to-understand language. I am no idiot, but sometimes I sure feel dumb... by Kenny | Oct 8, 2023
Weekly Market Commentary – 10/6/2023 -Darren Leavitt, CFA Investors were treated to another mixed bag of market action as the yield curve steepened on the notion of higher rates for longer. There were several central bank officials that echoed the need to... by Kenny | Oct 7, 2023
A recent retiree shares lessons learned late about saving money and spending time Everyone nearing retirement has a vision of what their road will be like once they clock out of the 9-to-5. Maybe that prophecy includes regular travel, longer trips to see the... by Kenny | Oct 5, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: On September 6th in a piece titled, “Rules for Inherited IRAs that May Surprise Nonspouse Beneficiaries,” Sarah Brenner from Ed Slott and Company wrote, “If you inherited the IRA funds in... by Kenny | Oct 4, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Earlier in my career, I worked for a company that sponsored a defined benefit (DB) pension plan. Up to now, I’ve chosen to defer payments from the plan. A few weeks ago, I received an official-looking... by Kenny | Oct 2, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport SECURE 2.0 expands qualified charitable distributions (QCDs) by allowing a one-time only QCD of up to $50,000 to a split-interest entity. As a result of this new rule, there is now a... by Kenny | Oct 1, 2023
Weekly Market Commentary – 9/29/2023 -Darren Leavitt, CFA Markets finished a difficult month of September with mixed results. The prospect of a government shutdown, along with no real progress in the UAW negotiations and a recalibration of interest rate... by Kenny | Sep 29, 2023
Take inventory of your assets and your strategy, or you could regret it later Reaching age 50 is a milestone that most of us celebrate. Still, after you’ve blown out the candles and bid farewell to your guests, you may have a headache from too much champagne, but... by Kenny | Sep 27, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport The Ed Slott team answers thousands of IRA and work plan questions annually – emails, phone calls, in-person conversations, webinars, Q&A programs and texts. We accommodate all members of... by Kenny | Sep 24, 2023
Weekly Market Commentary – 9/22/2023 -Darren Leavitt, CFA US equity markets sold off in tandem with the US Treasury market as the Federal Reserve’s Open Market Committee meeting concluded with no change to its policy rate. The Fed’s Summary of Economic... by Kenny | Sep 21, 2023
Take these write-offs on your 1040, even if you don’t itemize your return Doing your taxes is a hunt for ways to minimize your income: The lower your income, the less tax you pay. For most retirees and pre-retirees, this means taking the standard deduction and moving... by Kenny | Sep 21, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: I have a new inherited IRA, and I believe that I am subject to BOTH the 10-year rule and to annual RMDs. Is this true? My situation: Original owner was age 92 and passed in... by Kenny | Sep 20, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport If you are thinking of buying an NFT (non-fungible token) with your IRA funds, you may want to reconsider. In Notice 2023-27, the IRS said that NFTs associated with “collectibles” are prohibited IRA... by Kenny | Sep 18, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Maybe you made a Roth IRA contribution for 2022 and then discovered your income was too high. Maybe you contributed to a traditional IRA but later discovered that the contribution... by Kenny | Sep 17, 2023
Weekly Market Commentary – 9/15/2023 -Darren Leavitt, CFA It was a roller coaster ride on Wall Street this week, with early-week gains met with a late-week sell-off. Investors cheered the largest IPO of the year that saw Arm Holdings come to market 10x... by Kenny | Sep 14, 2023
You don’t have to tell them some things, but others are very important You’ve probably taught your kids a whole bunch about money over the years, like how to stretch an allowance through an entire week and how to balance a debit account — or, most challenging of all,... by Kenny | Sep 14, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport Question: I understand that my kids will need to empty my Roth IRA in 10 years, but do they need to take RMDs in years 1 through 9? I am beyond my RMD age. Larry Answer: Larry, Assuming none of your... by Kenny | Sep 13, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport If ever I was traveling from Los Angeles to Atlanta, I would choose a direct flight with no layovers. I want the most efficient route to my destination. Point A to Point B. Take off, land. Assuming... by Kenny | Sep 11, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport The August 28, 2023 Slott Report summarized IRS Notice 2023-62, where the IRS delayed the effective date of the SECURE 2.0 rule requiring catch-up contributions by higher-paid older employees to be made on... by Kenny | Sep 11, 2023
-Darren Leavitt, CFA The holiday-shortened week ended with losses for both US equities and Treasuries. Apple shares tumbled on the news that the Chinese government would ban the use of the iPhone at government agencies at all levels of government. The news comes in...