Of a Certain Age? You May Need to Withdraw Money From a Retirement Account

After saving for retirement for years, when you turn 70 ½ years old, the Internal Revenue Service requires that people start taking their RMD (required minimum distribution) out of their retirement accounts which could be an IRA or 401(k). If you fail to take an RMD you may face a steep penalty. For the complete NYT article, follow our link. Read More. Of a Certain Age? You May Need to Withdraw Money From a Retirement Account By Ann Carrns | The New York Times You may be thinking about holiday gifts and New Year’s resolutions. But if you’re old enough Continue Reading

Court Overturns Rule Protecting Investors Saving for Retirement

A U.S. court of appeal has struck down a Department of Labor (DOL) rule that was intended to prevent financial advisers from steering their clients to bad retirement investments, but the Securities and Exchange Commission (SEC) has proposed new regulations to at least partially address the same problem. Prompted by concern that many financial advisors have a sales incentive to recommend to their clients retirement investments with high fees and low returns because the advisors get higher commissions or other incentives, in February 2015 President Obama directed the DOL to draw up rules that require financial advisors to act like Continue Reading

How to Judge a Retirement Community’s Financial Health

Are you considering moving to a retirement community? In addition to the facilities amenities, you should examine the financials of the places you are considering and learn how each invests the entrance fees that residents pay in addition to what any monthly costs are. Read on for more information in this NYT article. By Peter Finch | New York Times Alicia Butcher Ehrhardt has it all figured out. With their three children grown and out of their New Jersey home, she and her husband, William, will move into a full-service retirement community this year. It will be someplace “interesting and Continue Reading