Category: Family Issues

IRAs With Excess Assets Impact Family Members Too!

After passage of the SECURE Act of 2019, non-spouse IRA beneficiaries are now required to liquidate their inherited IRAs by the end of the 10th year. Often, that means they’ll be withdrawing taxable income from the inherited IRAs during their peak earning years – great gift for Uncle Sam, but not so good for the kids.

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17 Unexpected Retirement Expenses

I wish I could take credit for this list, but I can’t. This is from the Society of Actuaries who outlined these unexpected or shocking expenses in its 2015 Risks and Process of Retirement Survey. I doubt it’s changed much since. Here they’re ranked by the likelihood of it happening.

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When A Loved One Dies

When  a loved one dies, it can be a bit chaotic. I remember when my parents passed away, they had lived a very long and happy life. 

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The Stretch IRA is Gone. Now What?

The SECURE Act has changed the game, especially for parents who were planning on leaving substantial nest-eggs to their kids, with the elimination of Stretch IRAs.  Uncle Sam may be the biggest beneficiary.

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Losing A Spouse Can Be Expensive…

Few people think about this – and I wish I could be the smart guy that thought of this for this post, but I wasn’t . It’s something called the widow’s penalty tax; it affects the surviving spouse.

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