Weekly Market Commentary – 4/19/2024 -Darren Leavitt, CFA Financial markets took another step back last week as investors grappled with increased tensions in the Middle East and the recognition that interest rates are likely going to be higher for longer. Iran...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport If you’re an IRA beneficiary subject to the 10-year payout period and would have had a 2024 required minimum distribution (RMD), you’re in luck. In IRS Notice 2024-35, issued yesterday (April 16), the IRS...
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport You have carefully saved for retirement and now you have accumulated a substantial amount of funds in your IRA. At some point the funds that you have been putting away for years...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: Dear IRA Help, My mother passed away in April of 2023 and no required minimum distribution (RMD) was taken. The entire IRA account was paid out to the charity that was the...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport Imagine walking through a grocery store, intent on purchasing a specific item. As you turn down an aisle, little colorful tags proclaiming “Special Deal” and “Buy 1, Get 1” protrude from each...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport If you exceeded the 2023 limit for 401(k) deferrals, time is of the essence to correct the error. If you don’t act quickly, the tax consequences can be serious. The maximum amount of pre-tax and Roth...
-Darren Leavitt, CFA Wall Street took a step back in the first week of the second quarter as robust economic data induced a recalibration of rate cut expectations. The recalibration was further influenced by Minneapolis Fed Governor Neel Kashkari’s suggestion...
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Question: I have a general question regarding the 10-year time frame for emptying an inherited IRA. Your guidance says that the deadline is the END of the tenth year following death....
Retirement is not just about what you should buy or invest in — it’s equally about decluttering and letting go of assets that may no longer serve a purpose or even cost you money. For baby boomers, the following are items worth considering selling in retirement to...
By Sarah Brenner, JD Director of Retirement Education Follow Us on X: @theslottreport Markets continue to climb. That is good news for your retirement account. However, there is a downside. When you contribute to a traditional IRA or a pre-tax 401(k), you make a deal...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport ‘Tis the season for identifying and correcting excess IRA contributions. It seems as if every other recent inquiry is about this subject. To keep readers on the straight and narrow, here are ten...
Weekly Market Commentary – 3/28/2024 -Darren Leavitt, CFA The S&P 500 hit another all-time high this week as investors appeared to rebalance positions into quarter end. The week started with some weakness on the announcement that the EU was investigating...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Question: Hi, My last remaining parent, my mother, passed away in May 2017, and my younger brother and I inherited her IRA (equally split into inherited IRA accounts). We were of the understanding we could...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Previous Slott Report articles have covered the new SECURE 2.0 provision allowing 529 funds to be rolled over to Roth IRAs. We’ve reported that there are several unanswered questions concerning this new...
-Darren Leavitt, CFA US equity markets forged another set of new highs in an extremely busy week on Wall Street. Global Central Banks took center stage, headlined by the Bank of Japan, the US Federal Reserve, and the Bank of England. The BOJ, as expected, moved away...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport QUESTION: I know you can delay taking your first required minimum distribution (RMD) until April 1 of the year after you turn age 73. If you convert your entire IRA into a Roth before that date, but...
The calendar page has turned and 2024 is well on its way. Before we get too far down the road, be sure to check out these changes around retirement savings. Every so often the federal government approves changes to the contribution limits for tax-advantaged retirement...
By Andy Ives, CFP®, AIF® IRA Analyst Follow Us on X: @theslottreport Three times a week, every week, we add to the Slott Report. Two article entries and a mailbag. All factual, measurable information. “This is what to consider when you name a trust as your...
By Ian Berger, JD IRA Analyst Follow Us on X: @theslottreport Retirement plan funds are designed for retirement, but Congress continues to make it easier for employees to pull out those funds while still working. The SECURE 2.0 law adds several new in-service...
Weekly Market Commentary – 3/15/2024 -Darren Leavitt, CFA Markets pulled back this week as investors assessed hotter-than-anticipated inflation data. US Treasuries sold off across the curve as the higher-for-longer narrative strengthened ahead of the coming...
