Retirees who limit retirement account withdrawals to RMDs could be making a mistake, according to JPMorgan Chase. Though retirees are only required to take a certain portion of their retirement savings out as distributions each year, a study from JPMorgan Chase shows that there is likely good reason to take out more. A withdrawal approach based … Read more
403(b) RMDs Most Americans have at least heard of a 401(k) plan, but there is another tax-advantaged workplace retirement plan out there — the 403(b). A 403(b) operates similarly to a 401(k), but is generally only available to public sector employees and some non-profit workers — including teachers, university employees and religious leaders. While in … Read more
The IRS has a new interpretation of the 2019 Secure Act, including proposed regulations surrounding RMDs for inherited retirement accounts. The Internal Revenue Service has proposed rule changes that could significantly impact how beneficiaries will manage inherited retirement accounts. The proposed regulations, which were published last month, caught some in the financial services industry by … Read more
The IRS has good news for retirees: you can now keep more money in your tax-deferred retirement accounts thanks to lower required minimum distributions (RMDs). For the first time in 20 years, the Internal Revenue Service has updated its actuarial tables that dictate how much a person is required to withdraw from his or her … Read more
Sporrer/Rupp | Image Source | Getty Images It’s not uncommon for retirees to worry about how to make sure their savings last through their lifetime. Some people rely on the so-called 4% rule — withdrawing 4% from their savings in the first year of retirement and in subsequent years taking that same amount, adjusted for … Read more