Retirement Savers Get a Boost – IRA Contribution Limits Increased for 2019.

There is good news for those of you who are actively saving for retirement. The IRA contribution limit, presently $5,500 for 2018, will increase to $6,000 for 2019. If you are age 50 or older in 2019, you can add an additional $1,000 to your IRA, for a total contribution of $7,000 for 2019. The […]

Costly IRA Rollover Mistake – Easily Made; Impossible to Fix.

The rules governing IRA accounts are maddeningly complex, especially the rules for inherited IRAs. I was working with a client on an issue involving the control of an inherited IRA account when I was reminded of a case that shows just how easy it is to make a mistake that cannot be fixed. Mrs. Beech […]

Year-End IRA Housekeeping

The end of the year is fast approaching, and with it several important deadlines for IRA account owners and beneficiaries. In my experience helping clients address year-end IRA matters, the following are the most problematic areas: Required Minimum Distribution (RMD) Deadline: December 31 is the deadline for taking RMDs from an IRA for an account […]

Should Have Put A Ring On It.

Pellie was in a long term relationship with Tony that lasted over 40 years. They never married. Pellie became Tony’s caretaker when his health began to fail. Tony died in 2015. Pellie had received about $300,000 in assets from Tony up to and after his death. But Pellie believed she was entitled to much, much […]

Saving for College Off the FAFSA Radar

Many of my clients have a desire to incorporate a college savings component into their financial plans to help with their grandchildren’s college education expenses. In many cases, a 529 college savings account has already been set up for the grandchild by the parents, and the client would like to contribute to that account. Simple […]