The Secure Act’s 10-Year Rule for IRA Heirs The Setting Every Community Up for Retirement Enhancement (Secure) Act fundamentally changed the rules governing distributions from inherited retirement accounts. Inheriting an IRA or 401(k) under the new administration could create several adverse tax consequences for the beneficiary—and it’s never too early to take actions designed to ensure the […]
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The Ten Critical Ages for Retirement Planning Each type of retirement benefit has a different eligibility age. Your age plays a significant role in how much you can expect to receive from Social Security and what you need to do to avoid retirement account penalties. Key Milestones for Retirement: 49 — Max out retirement accounts:
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Need Cash for Supplemental Income? Consider a Reverse Mortgage If you’re 62 or older – and want money to pay off your mortgage, supplement your income, or pay for healthcare expenses – you may consider a reverse mortgage. It allows you to convert part of the equity in your home into cash without having to
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HSA Just Might Be the Holy Grail of Savings Accounts Pre-tax contributions, tax-free withdrawals, and tax-free gains = the Holy Grail of savings opportunities. If you estimate yourself at the 25% tax bracket when you retire, and you put $60,000 into a savings account, you lose $15,000 to taxes; but if you put it in
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Christiana Onyegbado
Wealth Strategist | Specialist, Retirement and Insurance Solutions
A lifelong Educator with three adult children; have been in the insurance business in the past, and have a masters degree in Biology.