by Kenny | Jan 25, 2024
Not only can these insights save you a boatload of stress later in life, but they can help ensure that you have a happy retirement. Planning for retirement is tricky. There can be a lot of uncertainty involved. You try to make good decisions with the information you... by Kenny | Jan 25, 2024
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: Is it possible to do a Backdoor Roth IRA conversion with a SEP IRA? If yes, how does it work? Thank you! Yulia Answer: Hi Yulia, Yes, you can do a Backdoor Roth IRA conversion with a SEP... by Kenny | Jan 21, 2024
Weekly Market Commentary – 1/19/2024 -Darren Leavitt, CFA The S&P 500 and Dow Jones Industrial Average hit record highs on Friday despite a reset of monetary policy rate cut expectations. Mega-cap technology issues outperformed with a jump start from the... by Kenny | Jan 19, 2024
When setting up your financial retirement plan, you’ll likely consider various options for how you plan on covering the bills in your golden years. With soaring inflation and aggressive rate hikes from the Fed, annuities have become more popular recently, as those... by Kenny | Jan 18, 2024
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: I have been funding a 529 account for over 15 years and no longer need to add deposits. Could I change the beneficiary to myself and then convert to a Roth IRA, assuming I have met the... by Kenny | Jan 14, 2024
Weekly Market Commentary – 1/12/2024 -Darren Leavitt, CFA US Markets gained ground in the second week of 2024, attributed to mega-cap issues in the Information Technology and Communication Services sectors. The Equal-weight S&P 500 was up 0.2%, while the... by Kenny | Jan 11, 2024
“The future ain’t what it used to be,” the inimitable Yogi Berra once said. Yogi knew the future is unpredictable. No one in 2019 could have predicted a devastating worldwide pandemic in 2020. Nevertheless, we can look to the past for hints on how the next year may... by Kenny | Jan 6, 2024
Weekly Market Commentary – 1/5/2024 -Darren Leavitt, CFA After nine weeks of gains, the market fell in the first week of trading in 2024. Interestingly, the losses incurred this week largely came from areas of the market that outperformed last year, namely... by Kenny | Jan 5, 2024
Inflation adjustments and the phase-in of Secure 2.0 provisions have implications for retirement savers and retirees alike. The dawning of 2024 will usher in more changes than usual on the retirement-planning front. As is typical with the turn of the calendar page,... by Kenny | Jan 4, 2024
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: Hoping you can help with this technical question. I am over 73. My traditional IRA balance as of 12/31/22 was $0.00. I made a $7,500 non-deductible traditional IRA contribution in 2023 and... by Kenny | Jan 3, 2024
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport When the bell dropped in Times Square last Sunday night, a bunch of new provisions from the SECURE 2.0 legislation kicked in. This article will focus on the Roth-related changes that are effective in 2024.... by Kenny | Dec 28, 2023
How changes in Social Security, Medicare, taxes and more will affect your finances For most people, retirement finance is a delicate balance between income that’s likely less than what you made while working and expenses that may be lower in some areas (no more... by Kenny | Dec 25, 2023
Weekly Market Commentary – 12/22/2023 -Darren Leavitt, CFA US equity markets inked an 8th consecutive week of gains as investors continued to foster the soft landing narrative. Trading volumes lightened as the week progressed and corporate news was relatively... by Kenny | Dec 21, 2023
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: I have a traditional IRA with a portion being nondeductible contributions. The last nondeductible contribution I made was in 2009. and I have my Form 8606 showing the... by Kenny | Dec 20, 2023
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport The SECURE 2.0 Act contained over 90 sections and included numerous IRA and retirement account changes. Additionally, the legislation incorporated staggered effective dates over multiple years. Here... by Kenny | Dec 20, 2023
While inflation has been falling in recent months, seniors remain especially vulnerable to price increases, experts say. Social Security recipients and others on fixed incomes will soon see a slight increase in their monthly benefit checks from the U.S. government.... by Kenny | Dec 18, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Thinking of opening up a new solo 401(k) plan for 2023? Thanks to SECURE 2.0, you don’t have to rush to get it done by year end. A solo 401(k) is an excellent retirement savings vehicle for self-employed... by Kenny | Dec 17, 2023
Weekly Market Commentary – 12/15/2023 -Darren Leavitt, CFA The Bull market continued its rally streak to seven consecutive weeks, something not seen since 2017. Wall Street threw a “pivot party” as the US Federal Reserve’s Open Market Committee meeting ended... by Kenny | Dec 14, 2023
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: My sister inherited an IRA from our mother (age 95 and died in 2019.) My sister took her RMDs (required minimum distributions) from this inherited account over her life expectancy. My sister died... by Kenny | Dec 14, 2023
As 2023 comes to a close, many Americans are turning their attention to 2024 and contemplating resolutions for the new year. Many focus on financial resolutions. as people seek to earn more or create breathing room in their budget. For some, making a commitment...