Posts Tagged ‘Planning’

Calculating Your RMD in 5 Easy Steps

What is an RMD (required minimum distribution)? An RMD is the minimum amount that must be withdrawn from a retirement account each year. When are you subject to RMDs? Traditional IRA owners are subject to RMDs beginning in the year in which they turn age 70½. Beneficiaries of IRAs and/or Roth IRAs are subject to…

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Red Flags for Tax Auditors

No one wants to see an Internal Revenue Service (IRS) auditor show up at their door. But in 2018, the IRS budget is roughly $1 billion less than it was 8 years ago, down from $12.1 billion in 2010 to $11.2 billion. And even though the number of audits has dropped 40 percent from 2010…

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Your Emergency Fund: How Much is Enough?

Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing and your family ends up on a first-name basis with the nurse at urgent care. Then, as you’re driving to work, giving yourself your best, “You can make it!” pep talk, you see smoke seeping out from under…

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Why You Still Need Goal-Based Planning in Retirement

Before you retired, you may have spent time developing strategies to help you reach your retirement goals. You might have invested for the income you would need, minimized your debt, or protected yourself with long-term-care insurance. By focusing on your financial goals and envisioning the lifestyle you wanted for that next stage in life, you…

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