Did you know that most Americans spend more time planning vacations than they do planning for retirement?
How often do you check the numbers in your retirement account? Do you know how much you have saved off the top of your head?
The tax code says that IRA required minimum distributions are not eligible to be converted to a Roth IRA, which means that even though RMDs are taxable, they cannot be deposited into your Roth IRA.
Did you know that IRAs make up the largest single share of the retirement savings market with an amount amount worth an estimated $7.3 trillion?
Did you know that you can move your pretax 401(k) investments and earnings into a traditional IRA, where they will continue to grow tax-deferred? You can also direct your after-tax 401(k) investments into a Roth IRA, where they avoid federal tax. To take advantage of that, you’ll need to roll over everything at once.
If you rolled over any retirement plan distribution in 2014, you must report the rollover on your federal income tax return (IRS Form 1040). This includes distributions from any IRA that are payable to the IRA owner as well as all distributions from a company retirement plan, such as a profit sharing plan, 401(k), 403(b) or government 457…
Did you know that there are more than 600,000 people in America with at least $1 million in an IRA?
Did you know that Americans have an estimated $24.2 trillion in retirement assets? To put that into perspective, the entire gross national debt is about $18.1 trillion.
If you plan on using an estate planning option, such as a disclaimer or a trust, make sure that option is available for your IRA or employer plan.
Are you getting a tax refund this year? Have you considered what you might do with it? Here’s a thought: put it towards your retirement.