Can You Put Your IRA into a Trust?

What you should know about naming an IRA beneficiary. Can your IRA be put directly into a trust? In short, no. Individual retirement accounts (IRAs) cannot be put directly into a trust. What you can do, however, is name a trust as the beneficiary of your IRA. The trust would inherit the IRA upon your […]

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Debunking Common Retirement Assumptions

Don’t fall for these misconceptions. Financial generalizations are as old as time. Some have been around for decades, while others have only recently joined their ranks. Let’s examine a few.      Retirement means I can stop investing. In the past, retirement was viewed as an “end” in many ways. These days though, retirement is […]

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Creating a Retirement Strategy

Most people just invest for the future. You have a chance to do more. Across the country, people are saving for that “someday” called retirement. Someday, their careers will end. Someday, they may live off their savings or investments, plus Social Security.  They know this, but many of them do not know when, or how, […]

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Your Extended Care Strategy

Are you prepared for the possibility – and expense – of eldercare? Do you have an extra $33,000 to $100,000 to spare this year? How about next year, and the year after that? Your answer to these questions is probably “no.” What could possibly cost so much? Eldercare.   According to the AARP Public Policy Institute, […]

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The Major Retirement Planning Mistakes

Why are they made again and again? Much is out there about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Aside from these blunders, some classic financial missteps plague retirees.    Calling them “mistakes” may be a bit harsh, as not all of them represent errors in judgment. Yet whether they result […]

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Long-established retirement account rules change. The Setting Every Community Up for Retirement Enhancement (SECURE) Act is now law. With it, comes some of the biggest changes to retirement savings law in recent years. While the new rules don’t appear to amount to a massive upheaval, the SECURE Act will require a change in strategy for […]

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New I.R.S. Contribution Limits

A look at the maximum amounts you can put into retirement accounts this year. The I.R.S. just announced the annual contribution limits on IRAs, 401(k)s, and other widely used retirement plan accounts for 2020. Here’s a quick look at them. *Next year, you can put up to $6,000 in any type of IRA. The limit […]

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Roth IRA Conversions

What are your options? What are the benefits? If you own an Individual Retirement Account (IRA), perhaps you have heard about Roth IRA conversions. Converting your traditional IRA to a Roth IRA can make a lot of sense depending on your situation. But remember, consulting with your financial advisor before making financial decisions is never […]

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The Problem of Money Paralysis

Not making a move may not always be the best move to make. A decision not made may have financial consequences. Sometimes, we fall prey to a kind of money paralysis, in which financial indecision is regarded as a form of “safety.”   Retirement seems to heighten this tendency. If you are single and retired, you […]

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