HOW DOES THE IRS COMPENSATION LIMIT WORK?

by | Feb 14, 2022 | IRA Blog

By Ian Berger, JD IRA Analyst Towards the end of each year, the IRS announces cost-of-living increases for several retirement-related dollar limits that will become effective for the next year. For example, last November, the IRS said that the limit on employee...

ROTH CONVERSIONS & RMDS: TODAY’S SLOTT REPORT MAILBAG

by | Feb 10, 2022 | IRA Blog

By Sarah Brenner, JD Director of Retirement Education Question: I turn 72 this year. I am getting notices from my many IRA custodians that they want a waiver on file if I am NOT using my account for the RMD (i.e., I am taking it somewhere else). They make it sound...

Expenses You Can Eliminate in Retirement

by | Feb 10, 2022 | Uncategorized

Eliminating these expenses means substantial savings in retirement. Lower your expenses. Many retirees are tempted to spend more money on leisure activities in retirement. Health care costs also tend to increase as people age. But there are many costs that decline in...

10% PENALTY EXCEPTIONS

by | Feb 9, 2022 | IRA Blog

By Andy Ives, CFP®, AIF® IRA Analyst For IRA owners and retirement plan participants who are under age 59 ½, taking a distribution from a retirement account is typically off limits. The distribution will most likely be taxable, and there is a good chance that a 10%...