What Penalties Hurt Retirement Accounts? – Annapolis and Towson Estate Planning
The following are penalties to avoid at all costs when contributing to or withdrawing from retirement accounts.
Does Potential IRS Change Have an Impact on Estate Plan? – Annapolis and Towson Estate Planning
The IRS is weighing a change that could leave your heirs poorer than you might hope.
Should I Have a Roth IRA? – Annapolis and Towson Estate Planning
Roth individual retirement accounts allow you to pay income tax on your retirement savings upfront, so you won't be stuck with a tax bill in retirement when you can least afford to pay it.
The Stretch IRA Is Diminished but Not Completely Gone – Annapolis and Towson Estate Planning
In the pre-SECURE Act universe, there were designated beneficiaries. These beneficiaries could be individuals (sometimes called named beneficiaries), institutions, such as charities, or estates.
How to Benefit from a Roth IRA and Social Security – Annapolis and Towson Estate Planning
Although Social Security helps millions of seniors stay afloat financially, living on those benefits alone could mean winding up cash-strapped in retirement.
How to Make Beneficiary Designations Better – Annapolis and Towson Estate Planning
Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.
Tapping an Inherited IRA? – Annapolis and Towson Estate Planning
When a loved one dies, any leftover IRA funds they had, goes to whomever they labeled as beneficiaries. If you're a beneficiary, you have to decide how you're going to use it—a decision that's a little more complicated this year than it normally is.
How the CARES Act has Changed RMDs for 2020 – Annapolis and Towson Estate Planning
Here is what you need to know about delaying required withdrawals from a retirement account until 2021.
Should You Move Your 401(k) to A Roth? – Annapolis and Towson Estate Planning
Research shows that moving 401(k)s to after-tax contributions would boost tax returns in the short term, but leave retirees worse off.