by Asset Strategy | Jul 31, 2023 | Retirement Income, Retirement Planning
Before 1978, most retirement plans were set up as pensions. Although the term “pension” can colloquially be referred to any kind of retirement account, usually what is meant by “pension” is a defined-benefit plan.[1] “Defined-benefit plan” is a technical term for a...
by Asset Strategy | Jul 26, 2023 | Financial Planning, Wall Street Journal
All the boring old ways to save money made a comeback the past 18 months as the Federal Reserve increased interest rates to fight inflation. Savers piled into government I bonds, high-yield savings accounts and staid bank certificates of deposits chasing better...
by Asset Strategy | Jul 24, 2023 | Taxes & Tax Planning
Put plainly: a taxable event is a transaction that causes someone to owe money to the government in the form of taxes.[1] Seems simple enough, right? When it comes to retirement and savings, there are a few important taxable events that you might want to keep an eye...
by Asset Strategy | Jul 19, 2023 | Barron's, Financial Planning, Retirement Planning
The Internal Revenue Service is allowing people who inherited an individual retirement account after 2019 to skip a required minimum distribution this year, but most still must empty the account within 10 years. The IRS issued the new guidance Friday. There has been...
by Asset Strategy | Jul 17, 2023 | Retirement Planning
When you turn 59 ½, there are things that begin to happen. Most importantly: you can begin withdrawing from your retirement accounts, such as 401(k)s and IRAs.[1][2] This age is also very important because it can mark a shift in your investment and retirement...
