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Think About RMDs Before You Turn 70
Submitted by Mission Financial Planning on August 26th, 2016
Updated for the new SECURE Act: For any individual born after June 30, 1949, the required beginning date for Required Minimum Distributions (RMDs) is April 1 of the year after the year in which such individual reaches age 72 (or, in the case of certain plans, if he or she is still working, after the year in which he or she retires if later).
What Happens When You Forget to Take an RMD
Submitted by Mission Financial Planning on August 9th, 2016
Updated for the new SECURE Act: For any individual born after June 30, 1949, the required beginning date for Required Minimum Distributions (RMDs) is April 1 of the year after the year in which such individual reaches age 72 (or, in the case of certain plans, if he or she is still working, after the year in which he or she retires if later).
Using an IRA for Charitable Contributions
Submitted by Mission Financial Planning on July 26th, 2016Updated for the new SECURE Act: For any individual born after June 30, 1949, the required beginning date for Required Minimum Distributions (RMDs) is April 1 of the year after the year in which&n
How RMDs Work in Real Life
Submitted by Mission Financial Planning on July 19th, 2016Updated for the new SECURE Act: For any individual born after June 30, 1949, the required beginning date for Required Minimum Distributions (RMDs) is April 1 of the year after the year in which&n
RMDs for Business Owners and Employees
Submitted by Mission Financial Planning on July 11th, 2016
Updated for the new SECURE Act: For any individual born after June 30, 1949, the required beginning date for Required Minimum Distributions (RMDs) is April 1 of the year after the year in which such individual reaches age 72 (or, in the case of certain plans, if he or she is still working, after the year in which he or she retires if later).
RMD Basics
Submitted by Mission Financial Planning on July 5th, 2016Updated for the new SECURE Act: For any individual born after June 30, 1949, the required beginning date for Required Minimum Distributions (RMDs) is April 1 of the year after the year in which
Brexit
Submitted by Mission Financial Planning on June 24th, 2016I 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
Submitted by Mission Financial Planning on May 6th, 2016Four Things To Know About Social Security Planning
Submitted by Mission Financial Planning on November 5th, 2015WITH 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.