Getting the Money Out
The tax laws regarding withdrawals from
individual retirement accounts (IRAs) are complex. To avoid unnecessary
penalties and to ensure you withdraw the funds efficiently, here
are the basics.
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Should You Contribute to a Roth 401(k)?
Although Roth 401(k) plans became effective
on January 1, 2006, they are just now starting to gain momentum.
Originally, Roth 401(k)s were scheduled to expire after 2010,
so companies were not willing to start a plan that would expire
after a few years. However, the Pension Protection Act of 2006
made Roth 401(k)s permanent.
[FULL ARTICLE]
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Asset Transfer by Nonspouse Beneficiaries Still Depends on Plan
The Pension Protection Act of 2006 contained
a provision allowing nonspouse beneficiaries to roll over funds
from an employer pension plan to an inherited individual retirement
account (IRA), starting in 2007. This was viewed as a significant
development for nonspouse beneficiaries, who would be able to
extend distributions from employer pension plans over their life
expectancies rather than the typical five-year period imposed
by most plans.
[FULL ARTICLE]
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A 3-Step Asset Allocation Strategy
Perhaps the most important move you can
make for your investments is to properly diversify your portfolio.
By investing in a mix of stocks, bonds, and cash, you'll reduce
the risk of a significant loss. How you combine your diverse mix of investments
is called your asset allocation.
[FULL ARTICLE]
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Protecting Your Family: New and Old
According to the Census Bureau, blended
families - families that include children from one or both spouse's
previous marriages - now outnumber nuclear families. Yet, too
many people in these blended families assume that their estate
will be distributed to their spouse and children when they die.
Without an estate plan, that assumption may be misguided.
[FULL ARTICLE]
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