Personal Finance Advice and Commentary

Thursday, December 31, 2015 1:45 pm
By Jennie L. Phipps ·

The new legislation that Congress pushed through includes at least 5 provisions that help retirees and those planning for retirement.

Thursday, November 12, 2015 1:09 pm
By Dr. Don Taylor ·

A relatively new way to hold down RMDs is to invest part of the account in a QLAC.

Wednesday, April 15, 2015 6:00 pm
By Dr. Don Taylor ·

Now’s the time to consider other ways to reduce future required minimum distributions (RMDs) too, such as Roth conversions and purchase of a qualified longevity annuity contract.

Wednesday, July 23, 2014 10:31 am
By Dr. Don Taylor ·

The Treasury Department recently gave the green light for investors to purchase a longevity annuity within a 401(k) plan without worrying about RMDs.

Tuesday, April 24, 2012 5:36 pm
By Jennie L. Phipps ·

Some 34 percent of people pay taxes on their Social Security, which levels the playing field for those earning the highest benefits.

Tuesday, November 22, 2011 4:41 pm
By Jennie L. Phipps ·

As of 10 days ago, 66 percent of Fidelity Investments, more than 500,000 IRA customers, who are required by the IRS to take minimum distributions from their retirement accounts for tax year 2011 have not yet taken the full amount. About 55 percent haven’t taken any. Fidelity blames this oversight on market volatility and confusion

Sunday, October 09, 2011 9:00 am
By Jennie L. Phipps ·

I wrote about required minimum distributions, or RMDs, on Thursday — something that many people consider an annoying — and possibly unfair — part of retirement planning. Here’s another way to look at them. At 70½, the IRS requires that you start taking annual distributions from your tax-advantaged retirement savings or face a 50 percent

Thursday, October 06, 2011 4:11 pm
By Jennie L. Phipps ·

Here’s more evidence that the retirement planning industry is figuring out that lots of us who are living on retirement savings — or contemplating it — need help. If you have IRA accounts and are over age 70½, then you’ve had to deal with the required minimum distribution, or RMD, rules and know how complicated they

Thursday, January 27, 2011 4:39 pm
By Kay Bell ·

Older taxpayers were watching closely during last December’s tax bill debate. They wanted to know if they could still roll money from their traditional IRA into a charity. The answer, finally delivered on Dec. 17, 2010, when the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 became law, was yes. Rollovers from

Sunday, January 02, 2011 10:00 am
By Jennie L. Phipps ·

A reader of this blog, who also works with the AARP Tax-Aide program, points out that January is the time to make sure that you are going to have money available to pay not only this year’s taxes, but also next year’s. It’s a retirement planning basic. The AARP program offers free tax assistance to