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How RMDs Work in Real Life

In another post in this series we discussed how to calculate your Required Minimum Distribution (RMD).  Once you know how much the RMD

RMDs for Business Owners and Employees

Required Minimum Distributions (RMDs) from 401(k)s are treated differently for business owners.  For those who don’t own a business or own less than 5% of the business, an RMD is not required from the 401(k) while they’re still working (they would still have to take RMDs from their IRAs,

RMD Basics

Welcome to our series on RMDs – Required Minimum Distributions -- the distributions from retirement accounts (IRAs, 401ks, 403(b)s, 457 plans) that are required once the owner turns 70.5 years old. 

Brexit

I received a number of emails from money managers and analysts today regarding Brexit, Royce Funds summarized their opinion succinctly:

Taxes When Selling a Dental Practice

You may want to delay the closing of the sale of your dental practice into the first year of your retirement to move the taxation of practice proceeds into a lower-income year.

Four Things To Know About Social Security Planning

couple-on-bike2.jpgWITH THE RECENT (NOVEMBER 2015) BIPARTISAN BUDGET ACT, SOCIAL SECURITY RULES HAVE CHANGED SIGNIFICANTLY.  THE ARTICLE BELOW WAS WRITTEN IN 2014, SOME OF THE STRATEGIES MENTIONED BELOW MAY NOW BE CONTINGENT ON YOUR AGE. 

With over 2700 rules affecting Social Security benefits, it’s likely that no one knows everything there is to know about Social Security.  Here are four foundational truths about Social Security:

Once you’re eligible, you can start Social Security in any month until you’re 70. While three starting times are quoted on your Social Security report, they are good for reference but are not your only choices.

Married couples do not have to take Social Security at the same time.  In fact, there are some great strategies that use different start dates to optimize benefits based on your priorities:  early cash flow, the survivor’s check, biggest monthly check or maximum benefits over a lifetime, for instance.

How to Solve Cash Flow Problems

Sharon was recently interviewed for an article published on the Direct Capital website titled How to Solve Cash Flow Problems: 24 Experts Reveal Top Tips for Fixing Small Business Cash Flow Issues.  Here's an excerpt from that article:

Withdrawal Strategies: RMD Planning

Depending on your tax bracket, the years leading up to age 70.5 can be  a good time for taking withdrawals. 

Why borrowing from your 401(k) is better than cashing out your IRA

In our perfect world, you’d never need to borrow from your 401(k) OR cash out your IRA. We don’t intend to recommend either of these strategies by writing about them, however, sometimes people run into a cash crunch and after exhausting other options turn to their retirement savings for help. 

Withdrawal Strategies: The Importance of a Cash Reserve

Keeping a portion of your investments allocated to cash can be very practical in the day to day management of an income-producing portfolio and will increase your portfolio’s survival rate long term.

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