IRA Rollover Rules Change in 2015
As a refresher, IRA rollovers are simply the transfer of funds from a retirement account such as a 401(k) into an IRA, or an IRA-to-IRA transfer. There are three ways to accomplish this rollover or transfer: Direct rollover – The administrator of your account may issue your distribution in the form of a check made […]
Distribution Planning in Retirement
Retirement income involves thinking about the amount of money that you need for expenses and determining the source of these funds. The key difference between where you get your cash in retirement years versus working years is that you’ll no longer receive a paycheck in retirement, and you’ll need to replace that income from investments […]
Help! The Required Minimum Distribution from my IRA is more than I usually spend
When your required minimum distribution (RMD) is larger than the amount of income you need for expenses, you have many options for handling the excess. We find it is helpful to manage the extra amounts wisely in order to avoid spending more than you had planned.
When am I required to start withdrawing from my IRA?
Generally, for the year in which an individual turns age 70 ½ an individual must start taking distributions from their retirement accounts. Whether these amounts are needed for funding your retirement, the IRS requires that you begin taking the distributions.