Getting Older With No Retirement Savings in Sight?

by Lee Reams in Retirement Planning

One of the earliest lessons in life is that actions have consequences, and approaching retirement age without a substantial nest egg is one of those consequences. But if you are in this situation, you are not alone, as millions of other Americans are faced with the same need to save enough to retire comfortably. Read More

New Roth IRA Opportunities

by Lee Reams in Retirement Planning

2010 is the first year in which taxpayers—including married taxpayers filing separately—are able to convert funds in regular IRAs (including SEP and Simple IRAs) to Roth IRAs, regardless of income level.  This can provide a significant opportunity for certain taxpayers. Read More

2010 Liberalized IRA-to-Roth IRA Conversions

by Lee Reams in Retirement Planning

Beginning this year, taxpayers are able to convert funds in regular IRAs (as well as qualified retirement plans) to Roth IRAs regardless of their income level. Prior to 2010, taxpayers could not make a conversion if their gross income was in excess of $100,000. Read More

RMDs Start Back Up in 2010

by Lee Reams in Retirement Planning

A new year typically brings many changes with it. One of the changes that might impact you is the return of Required Minimum Distributions (RMDs) in 2010.

For 2009, Congress suspended RMDs from IRAs and other qualified retirements accounts for taxpayers age 70½ and older, giving their retirement accounts a chance to recover from the market crash of 2008. This suspension was for 2009 only, and for 2010 taxpayers must once again begin taking RMDs. Read More