Advertisement
Topics

Financial planning for the rest of life

Retirement planning tends to focus on saving during the working years, but even more thought should be given to the period after a client retires.

A retirement savings head start: 529-to-Roth rollovers

The recently enacted ability to transfer $35,000 of funds from a Sec. 529 plan to a Roth IRA can not only rescue funds “trapped” as education funding once they are no longer needed but can also provide a generous head start on beneficiaries’ assets for retirement.

Deferring income using annuities

Before purchasing a variable annuity, advisers and their clients should consider whether a stock index mutual fund may be a better alternative.

Key tax and retirement provisions in the Secure 2.0 Act

The year-end appropriations act included the Secure 2.0 Act, which makes many changes to the retirement plan rules, including expanding automatic enrollment and increasing the starting age for required minimum distributions.

Retirement transition: Crucial decisions

A CPA’s advice becomes even more vital once a client retires since poor decisions about Social Security, Medicare, and other retirement funding strategies will hamper clients for the rest of their lives.

Inflation-adjusted income ranges for 2021 IRA and 401(k) plans

The IRS announced that the income ranges for employee participation in workplace 401(k) plans and IRA contributions will increase from 2020 to 2021. Most of the other retirement plan contribution limits stayed the same, however.

Developing a solid approach to advising clients on Roth IRAs

Tax advisers should develop a profiling system for
identifying clients who are best suited to take advantage of Roth IRAs now that eligibility to participate in this popular retirement investment vehicle has been significantly expanded over the
past decade.