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
I received a number of emails from money managers and analysts today regarding Brexit, Royce Funds summarized their opinion succinctly:
WITH 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.
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:
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.
After age 70.5, your IRA can be used to make a charitable contribution.* [click here to learn more about Required Minimum Distributions] &n
Many factors must be considered when designing a withdrawal strategy for clients nearing or in retirement. The tax consequences of portfolio withdrawals are one of the most significant considerations.
A budget is a great way to create financial awareness, not just in the building of the budget, but in the tracking of actual expenditures against what you wanted to spend.