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Think You Know Retirement? Take Our Five-Question Quiz
Even if you're saving money in a 401(k), IRA, or another type of retirement account, you may not be paying much attention to the specific rules and regulations governing these accounts. After all, if you're years away from retirement,...
Read MoreSpring Clean Your Finances
As temperatures warm up, trees begin budding, and the days get longer, you probably throw open your windows and think about spring cleaning your home. As you tackle washing windows, cleaning carpets, and sorting out the garage,...
Read MoreMarket Volatility Can Stir Your Loss Aversion
At the foundation of your financial well-being lies your behavior Here is a statement that is bound to cause you to raise your eyebrows: Your long-term financial success may depend less on the structure of your portfolio than on...
Read More8 Timeless Principles of Investing
Click Here to Download our free e-book "8 Timeless Principles of Investing."
Read MoreIn 2022, RMD Tables Are Changing, and That's Good News for You
RMD Tables are changing to keep up with The SECURE Act of 2019. Under The SECURE Act, if you turned age 70 1/2 in 2019, you would've been required to take your first RMD by April 1, 2020. If you turned age 70 1/2 in 2020 or later, you...
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2022 Retirement Plan Contribution Limits
Download our exclusive Ed Slott 2022 Retirement Plan Contribution Limits Chart. Important Disclosure This information is not intended as authoritative guidance or tax advice. You should consult with your tax...
Read MoreIf Russia Invades Ukraine, What Should You Do?
Wall Street has little recent history to go from, but two things are very likely. Starting in late 2021 and throughout all of 2022, Wall Street has debated what markets might do if Russia invades Ukraine.
Read MoreCreating an Income Plan While in Retirement
Taking money out of retirement without a plan is a recipe for trouble. You‘ve saved for years. Now that you are retired, did you create an income plan from your savings? The financial industry and media constantly talk...
Read More2022 Tax Planning
Download our exclusive Ed Slott Resource with key tax numbers for 2022.
Read MoreThe Ultimate Gift Guide: Food
Don’t know what to get your healthy foodie friends and family this holiday season? Avoid the chaos of holiday shopping, and browse these nutritious websites for the perfect healthy treats for your loved ones from the comfort of...
Read MoreRoth Conversions: Why the Opportunity Cost Argument is Invalid
Some people believe there is a lost opportunity cost by doing a Roth conversion—that the funds used to pay the conversion tax could have been otherwise invested,and that investment return opportunity is lost. False: It’s...
Read MoreHoliday Conversations to Have Before Grandma Gets Run Over by a Reindeer
‘Tis the season to deck the halls, light the menorah and provide peace on earth (or at least to your families) with a well-constructed financial and estate plan. Download and print the Holiday Conversations PDF.
Read MoreEd Slott’s Top 10 IRA Rollover Mistakes
1. IRA-to-IRA Rollovers and Roth IRA-to-Roth IRA Rollovers Mistakes: Using 60-day IRA rollovers instead of using transfers to move IRA funds Once-per-year rule is for all IRAs and Roth IRAs IRS has no authority to correct these...
Read MoreAre You Maximizing 401(k) Contributions?
The more money that you can save when you are working, the easier it should be for you to retire and enjoy your golden years. Unfortunately, Social Security may no longer provide a sufficient income to live on during retirement. To...
Read MoreAppropriate Checklists for Year-End Tax Planning
What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different...
Read MorePlanning For Multiple Beneficiaries in 5 Easy Steps
When do multiple beneficiaries exist? Multiple beneficiaries exist when an individual names more than one beneficiary for their IRA. When should you name more than one beneficiary? When you want your IRA assets to go to more than one...
Read MoreUnderstanding the Estate Planning Process
It is common for people to put off planning their estates. After all, no one wants to anticipate his or her own death. In addition, many people may believe that only the wealthy require estate planning or that all that is involved is...
Read MoreData breaches are inevitable – here’s how to protect yourself anyway
It’s tempting to give up on data security altogether, with all the billions of pieces of personal data – Social Security numbers, credit cards, home addresses, phone numbers, passwords and much more – breached and...
Read MorePlanning to Save for Higher Education- Roth IRA Vs. 529 Plan
Benefits of a Roth IRA Roth IRAs are NOT included as an asset on the FAFSA (Free Application for Student Aid) form. Most other assets, including the amount in 529 plans, are included when calculating your EFC (expected financial...
Read MorePersonal Money Management- Help Your College Student "Make the Grade"
As Melanie Marshall (a hypothetical case) prepares to head off to college, she’s looking forward to her newfound independence. Although Melanie will be on her own for the first time, her parents, Joan and Al, can at least rest...
Read MoreHow Long Before the Fed Changes Its Course?
Quantitative easing and short-term rates near zero could be ending soon. Federal Reserve Chair Jerome Powell seems to have capitulated on plans to taper the Fed’s stimulus program as of mid-July, causing the bond market to rally...
Read MoreIs Tax Avoidance Ethical? Asking on Behalf of a Few Billionaire Friends
Some of the U.S.‘s wealthiest individuals reportedly pay just a tiny fraction of the billions of dollars added annually to their fortunes in federal income tax – sometimes they pay nothing at all. Investigative journalism...
Read MoreEight Key Facts to Know About Social Security
A whopping 70 percent of adults in their 20s through 50s fear that the Social Security program might be reduced or eliminated by the time they retire, and don’t know what to expect.1 It's important for all adults to be informed...
Read More2021 Medicare Income Planning
Part B and D Charges The Medicare health care system is largely government funded, but individuals pay premiums to participate in two portions of it.Medicare charges premiums to participants in Medicare Part B, covering doctor visits,...
Read MoreShortages and Bottlenecks Expose Weak Links in U.S. Supply Chains
U.S. consumers won't soon forget the troubling shortages of personal protective equipment during the early days of the pandemic, or when the first stay-at-home orders spurred panic buying and stress-inducing shortages of toilet paper,...
Read MoreWhy Inflation Rate Doesn't Tell the Whole Story
Why the inflation rate doesn’t tell the whole story – all it takes is a spike in a category like used cars to cause consumer prices to soar. Markets, economists and policymakers have been fretting about inflation for months...
Read MoreMaking Sense of Medicare Parts A, B, C & D
With its four distinct parts, Medicare can be an alphabet soup of complexity. We provide an overview of the various components and how they impact your healthcare costs. Medicare is available to virtually all U.S. citizens and legal...
Read MoreDad's Day Out: Must Visit Destinations for Father's Day
When it comes to shopping for Father’s Day, it can be tricky to avoid the old clichés of a new tie or a seventh (unnecessary) screwdriver for his toolbox. Besides, what if your dad isn’t the businessman or handyman...
Read MoreWhen To Call Me- Times to Call Your Financial Advisors
Most of us go to see professionals when we’re in trouble or during times of crisis. Think about it. We go to the doctor when we’re sick. We go see a lawyer when we have a pending legal matter. We go see a counselor when...
Read MoreThe New IRS Tax Rates and Deductions for 2021
Although a year away, your 2021 tax planning should have already started. Amidst all the pandemic news and 2020 election drama, many might have missed that the IRS also quietly published new 2021 tax rates in late October.
Read MoreKey Benefits of a Financial Advisor
Whether you've been wondering about boosting your investments' rates of return or are concerned that your financial affairs are a bit too complicated for your next of kin to handle, it may be time to seek advice from a financial...
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