Question: Can an individual who is using the age 55 exception to the 10% early distribution penalty roll over a part of a 403(b) account to an IRA and leave a portion in the 403(b) to take penalty-free withdrawals? Thank you, Jamie Answer: Hi Jamie, There is no rule...

If you have an IRA and you are approaching retirement age, you have probably heard the term “required minimum distribution” (RMD). But do you know the details of how the rules work and what they mean for you? Here are five facts about RMDs that every IRA owner should...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   We have written about this subject in the past (December 2023), but as is our philosophy here, learning is all about repetition, repetition, repetition. Surprisingly (he says with tongue...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport In a famous “Seinfeld” episode, George Costanza, unemployed, living with his parents and without a girlfriend, decides to do the opposite of what he would normally do. It pays off for him big time as he...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport   Question: I need guidance on a new client with the following information: Is age 55; Has a $700,000 ESOP in a company that he separated from over 10 years ago; and Wants...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport What do you get when community property mixes with your IRA? Well, you will discover that the results can be confusing. Here are some facts every IRA owner should know. Community...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   Ed Slott’s Elite IRA Advisor Group℠ gathered in Indianapolis last week for another successful conference. Over 350 member advisors from across the country spent two intense days of training,...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport   Question: Can a QCD (qualified charitable distribution) be made from a 401(k) plan? Thanks! Answer: No, QCDs can only be made from IRAs and inactive SEP or SIMPLE IRAs. One possible workaround would...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport   It’s been over four years since the SECURE Act upended the rules for beneficiary IRA required minimum distributions (RMDs), and there’s still plenty of confusion about the new rules. The IRS did give...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport   If you are at retirement age, you might be at a high risk for excess contributions due to rollover mistakes. This is because of the rule that says that the required minimum...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   QUESTION: My client is terminating employment and rolling over the funds from his 401(k). He was told that the funds must be rolled over to a “rollover IRA” and kept separate from any other...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   SCENARIO: In one calendar year, Jessie completes the following transactions: 1. Takes a partial distribution from her 401(k) and does a 60-day rollover to an IRA. 2. Does a 60-day rollover...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport   Here’s a question we get asked often: Say you retire in the year you turn age 73 (or in a later year) and you want to roll over your 401(k) funds to an IRA. Do you have to take a required minimum...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport   Question: My brother died in 2020 and made me the beneficiary of an IRA he inherited from my sister who died in 2017. Can I continue to stretch the payments from this...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport The cost of healthcare continues to climb. Are you frustrated with higher premiums and out-of-pocket costs? You are not alone. You may be looking for new strategies to handle these...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   We answer some pretty complex IRA and retirement plan questions. Our newsletters and other Slott Report entries can get into the weeds on some tricky topics. The thing is, when you spend all...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport   Question: Can you please clarify a question I have about whether I should take a Roth IRA withdrawal? I am much older than age 59 ½, and my first Roth IRA was opened over 20 years ago. I now own a...

By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport If you’re an IRA beneficiary subject to the 10-year payout period and would have had a 2024 required minimum distribution (RMD), you’re in luck. In IRS Notice 2024-35, issued yesterday (April 16), the IRS...

By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport You have carefully saved for retirement and now you have accumulated a substantial amount of funds in your IRA.  At some point the funds that you have been putting away for years...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   QUESTION: Dear IRA Help, My mother passed away in April of 2023 and no required minimum distribution (RMD) was taken. The entire IRA account was paid out to the charity that was the...

By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport   Imagine walking through a grocery store, intent on purchasing a specific item. As you turn down an aisle, little colorful tags proclaiming “Special Deal” and “Buy 1, Get 1” protrude from each...