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Inherited IRAs – When do RMDs Begin?

We are frequently asked when required minimum distributions (RMDs) begin when an individual inherits an IRA. As with most things related to IRAs, the answer is, it depends. Year of Death RMD If a Traditional IRA owner died after their required beginning date (RBD) and did not take their RMD for the year, the RMD

The Ricks Report – October 16, 2017

The Ricks Report October 16, 2017 Numbers of $ignificance EXPANDING ECONOMY – The US economy has been growing for the last 99 months (i.e., no recession), an expansion exceeded in length only 2 times since 1900 (source: National Bureau of Economic Research). DECADES PASS WITH FEWER REFINERIES – The United States has 141 operable oil

Are You Over 70.5 Years Old and Still Working? Understand Your Options With RMDs: This Week’s Q&A

This week’s Slott Report Mailbag examines RMDs when you are still working past 70.5 years old and inheriting multiple IRAs. As always, we recommend you work with a competent, educated financial advisor to keep your retirement nest egg safe and secure. You can find one in your area here. Question: I have read some of your

The Ricks Report – October 9, 2017

The Ricks Report October 9, 2017 Numbers of $ignificance LARGEST IN THE WORLD– The US economy is $19.25 trillion in size as of 6/30/17. 10 years ago (2007), the economy was worth $14.48 trillion.  20 years ago (1997), it was worth $8.61 trillion. 30 years ago (1987), it was worth $4.87 trillion (source: Commerce Department).

A Tale of 3 Cousins and Their Inherited 401(k) Plans

This is the story of Al, Bob and Carl. Each cousin is the non-spouse beneficiary of his father’s 401(k) plan. Their fathers worked together at the local automotive factory for their entire lives and were all covered by the same plan. The default distribution option in the plan for non-spouse beneficiaries is a five-year payout.