Posts tagged IRA
2024 Numbers to Know

The IRS has announced contribution savings limits for retirement savings accounts for 2024. All the maximum contributions to retirement plans have increased by $500. Make sure you let your payroll department know that you want to increase your contributions to these plans.

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Inheriting an IRA? Know the Distribution Rules

With the passage of the SECURE Act, distribution requirements for beneficiaries changed dramatically. Now, non-spousal beneficiaries are required to distribute the entire balance of an inherited IRA within 10 years! This could present an enormous tax burden for those beneficiaries.

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Finance In A Flash: Inherited IRA 10-Year Distribution Rule

In this episode of Finance In A Flash, we discuss the new 10-year Inherited IRA rules set forth by the SECURE Act in 2020. Chip and Nick discuss what this means for people who have inherited an IRA after 2020, and what scenarios or opportunities you should think about when withdrawing funds from your Inherited IRA.

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Estate Planning with Roth IRAs

Roth IRAs are great savings mechanisms and can be used effectively for retirement and education planning. One of the less publicized advantages to Roth IRAs is that they can be a great estate planning technique when someone wants to pass along as much as possible to their heirs.

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A Rule of Thumb for Withdrawal Rates

A question we often get is “How much can I withdraw from my accounts during retirement and not deplete them?” That question coupled with the ideal stock/bond mix makes for an interesting discussion on how probable your retirement goals are.

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What do commission-free trades mean for you?

Brokerage firms Charles Schwab & Co. and TD Ameritrade recently announced that they would stop charging brokerage commissions on trades for exchange traded funds and even stocks. Some of you may have wondered what impact this will have on you and also will we (Beacon) make any changes to your portfolio as a result.

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