by Kenny | Mar 27, 2024
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Previous Slott Report articles have covered the new SECURE 2.0 provision allowing 529 funds to be rolled over to Roth IRAs. We’ve reported that there are several unanswered questions concerning this new... by Kenny | Mar 23, 2024
-Darren Leavitt, CFA US equity markets forged another set of new highs in an extremely busy week on Wall Street. Global Central Banks took center stage, headlined by the Bank of Japan, the US Federal Reserve, and the Bank of England. The BOJ, as expected, moved away... by Kenny | Mar 21, 2024
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: I know you can delay taking your first required minimum distribution (RMD) until April 1 of the year after you turn age 73. If you convert your entire IRA into a Roth before that date, but... by Kenny | Mar 21, 2024
The calendar page has turned and 2024 is well on its way. Before we get too far down the road, be sure to check out these changes around retirement savings. Every so often the federal government approves changes to the contribution limits for tax-advantaged retirement... by Kenny | Mar 20, 2024
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport Three times a week, every week, we add to the Slott Report. Two article entries and a mailbag. All factual, measurable information. “This is what to consider when you name a trust as your... by Kenny | Mar 18, 2024
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Retirement plan funds are designed for retirement, but Congress continues to make it easier for employees to pull out those funds while still working. The SECURE 2.0 law adds several new in-service... by Kenny | Mar 17, 2024
Weekly Market Commentary – 3/15/2024 -Darren Leavitt, CFA Markets pulled back this week as investors assessed hotter-than-anticipated inflation data. US Treasuries sold off across the curve as the higher-for-longer narrative strengthened ahead of the coming... by Kenny | Mar 14, 2024
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: I have a client who is under age 59 ½ with a small traditional IRA. She wants to cash it in and use the funds for college education for her daughter. If I remember... by Kenny | Mar 14, 2024
The new year has brought some new math for anyone running their retirement planning numbers. Social Security checks are a bit higher this month, thanks to the annual cost-of-living adjustment (COLA) – but higher Medicare Part B premiums will take a bite out of... by Kenny | Mar 13, 2024
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport IRAs are an important, but often overlooked, part of your overall tax planning. As the deadline for filing 2023 tax returns approaches, it is a good time to incorporate your IRA plan... by Kenny | Mar 11, 2024
The same conversation has, understandably, been repeated many times. The questions are similar: “What do we do when a trust (or estate) is IRA beneficiary? How do we set up the account? Aren’t we now stuck with the high trust tax rates?” Of course, there is not enough... by Kenny | Mar 7, 2024
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: Hi Ed, I have Coverdell ESA accounts for my 5 grandchildren. My question is whether Coverdell ESAs can be treated the same as 529 plans under the new law when it comes to unused funds being... by Kenny | Mar 6, 2024
Congress has determined that 401(k) and other company plan funds, with certain exceptions, should be saved for retirement. For that reason, it has imposed strict restrictions on the ability of employees to withdraw from these plans while still working. Plans must... by Kenny | Mar 4, 2024
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport The Tax Court recently ruled that the new SECURE 2.0 statute of limitations (SOL) on the 6% excess IRA contribution penalty is not retroactive. SECURE 2.0 Changes SECURE 2.0... by Kenny | Mar 3, 2024
-Darren Leavitt, CFA Markets pushed back on an early week sell-off to close at record highs for the S&P 500 and NASDAQ. A building sense that the market is due for a pullback was met with inline consensus inflation data, continued outperformance in the... by Kenny | Mar 1, 2024
KEY POINTS More Americans are expected to turn 65 through 2027 than in any time in history. Despite the ‘silver tsunami,’ the correct age to retire is still in question. A fight is brewing in Washington over whether the mandatory retirement age for airline pilots... by Kenny | Feb 29, 2024
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: How many times in one year can a person do a Roth conversion? Thank you. ANSWER: A person can do an unlimited number of Roth conversions in a year. Roth conversions do not count against the... by Kenny | Feb 28, 2024
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport Year after year, many of the same IRA errors happen again and again. Based on the volume of times these mistakes occur, it seems appropriate to create a short list of repeat offenders…and... by Kenny | Feb 26, 2024
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport We have covered in The Slott Report the new SECURE 2.0 provision that allows unused 529 plan funds to be rolled over to Roth IRAs. It originally appeared that this new rule was to be effective for 2024.... by Kenny | Feb 24, 2024
-Darren Leavitt, CFA The S&P 500 and the Dow Industrial Average forged new all-time highs despite investors taking profits early in the holiday-shortened week. Semiconductor stalwart NVidia’s fourth-quarter earnings results induced a massive rally in the stock...