Income Tax Burdens For the Non-Spouse Beneficiary: Perils of Failing to Roll a 401k into an IRA

Have you heard about a “stretch IRA” and wondered if it was some special kind of IRA? Well, it isn’t. In the simplest terms, a stretch IRA is an IRA that has a beneficiary designation that provides for the possibility of maintaining the tax deferred status of the IRA after the death of the IRA [...]

How Much to Invest In Annuities for Retirement?

There are no limits on the amount that you can invest in an annuity to ensure your comfortable retirement income. Annuities thus complement to 401(k) or an IRA,investments, which do have such limits. You can opt for a deferred or immediate annuity. In either case, how much to invest in annuities depends on 3 factors: [...]

Tips and Helpful Hints When Choosing a Beneficiary for an IRA and 401k

By Bill Broich Choosing a beneficiary for your retirement account is an extremely important decision. Often the decision is pre-empted if a you are married because specific rules are in place. Under normal situations, most married people will name their spouse as the beneficiary of their retirement accounts. If a situation were to exist where [...]