“Third-party posts from Ed Slott’s IRA Blog:”
IRA BLOG
IRA Beneficiaries and the Roth IRA Five-Year Rule: Today’s Slott Report Mailbag
By Sarah Brenner, JD Director of Retirement Education QUESTION: I am age 84. My IRA beneficiaries are my two children (ages 52 and 56) and my grandchild (age 8). Who is a non-eligible designated beneficiary (NEDB) and who is an eligible designated beneficiary (EDB)?...
Correcting an Excess IRA Contribution After the October 15 Deadline
By Sarah Brenner, JD Director of Retirement Education Excess IRA contributions happen frequently and for a variety of reasons. Maybe your income ended up being higher than expected and you were ultimately ineligible for the Roth IRA contribution you made. Maybe you...
Beneficiary RMDs: Calculation Basics
By Andy Ives, CFP®, AIF® IRA Analyst Although many IRA owners are required to take required minimum distributions (RMDs), much confusion remains as to how the RMD is calculated. Factors include whether the original IRA owner reached his required beginning date (“RBD”...
Health Savings Accounts and IRA Rollovers: Today’s Slott Report Mailbag
By Andy Ives, CFP®, AIF® IRA Analyst QUESTION: I have a question regarding joint health savings accounts (HSAs). What happens if an HSA is shared with a spouse who is not yet eligible for Medicare? Can that spouse continue to contribute if they remain enrolled in a...
The Same-Property Rollover Rule Gets No Respect
By Ian Berger, JD IRA Analyst Many of you are probably aware of the 60-day rollover deadline and the once-per-year rollover rule. But there’s a third IRA rollover restriction you may be less familiar with: the “same-property rule.” The same-property rule is the Rodney...
5 Things to Know About HSAs at Age 65
By Sarah Brenner, JD Director of Retirement Education The unfortunate reality for many Americans is that medical expenses will be a large part of their expected budget in retirement years. Health Savings Accounts (HSA), which continue to grow both in numbers and in...
Can My Terminally-Ill Client Qualify For a Penalty-Free IRA Withdrawal?: Today’s Slott Report Mailbag
By Ian Berger, JD IRA Analyst QUESTION: I have a client who is age 52 and is being placed on hospice due to his battle with cancer. I understand that there is a provision in the SECURE 2.0 Act that allows individuals to withdraw from their IRAs prematurely without the...
Top 10 RMD Mistakes
By Andy Ives, CFP®, AIF® IRA Analyst IRA owners and retirement plan participants trip over the required minimum distribution (RMD) rules all the time. Bad advice is provided, misinformation is freely disseminated on TikTok, and sometimes smart individuals do...
Inherited IRAs and Roth IRA Portability: Today’s Slott Report Mailbag
By Sarah Brenner, JD Director of Retirement Education QUESTION: Are there any penalties/consequences/tax issues if I move money from a Roth IRA to start a new Roth IRA at another company? Thanks, Ramona ANSWER: Hi Ramona, Roth IRA funds are portable. There are no...
Ed Slott’s Elite IRA Advisor Group (Ed Slott Group) is a membership organization owned by Ed Slott and Company, LLC. Qualifying criteria for membership includes completing specified educational courses offered by Ed Slott Group. Ed Slott Group membership requirements include the payment of annual dues. Logos and/or trademarks are property of their respective owners and no endorsement of (Kevin Brucher) or (Silver Leaf Financial, Inc.) is stated or implied. Ed Slott Group and Ed Slott and Company, LLC are not affiliated with Silver Leaf Financial, Inc..
For the detailed requirements of Ed Slott’s Elite IRA Advisor Group, please visit: https://www.irahelp.com/
Phone 1-480-406-3396
Disclosure
This website is a publication of Silver Leaf Financial, Inc.. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change.
• Information on this website does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information on products and services. A professional advisor should be consulted before implementing any of the options presented.
• Information on this website is not an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein.
• Hyperlinks on this website are provided as a convenience and we disclaim any responsibility for information, services or products found on websites linked hereto.
• Silver Leaf Financial, Inc. is registered as an investment adviser and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.
Registration with a state securities regulator does not constitute an endorsement of the firm nor does it indicate that the adviser has attained a particular level of skill or ability.
Silver Leaf Financial is not engaged in the practice of law or accounting. Always consult an attorney or tax professional regarding your specific legal or tax situation.