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Clients may be tempted to use IRA monies as an emergency fund—help them determine whether that's feasible or if it will lead to tax trouble and bigger problems.
A little bit of knowledge about IRA rollovers, conversions, and distributions can be very dangerous. Gung-ho clients (and even their CPAs and attorneys) may know just enough to land them with a huge tax bill. Of course, you will have the facts to keep their retirement plan on track.
Clients may be eager to tap their 401(k)s and IRAs in these tough times, but they need to be fully aware of the consequences.
Ever-rising tuition rates may tempt cash-strapped clients to tap their retirement savings, but that's not a good strategy in the long run.
In some cases, you can roll your 401(k) money into an IRA without having to quit your job.
More employees are participating, but don't trip up! Here are some easily avoidable mistakes.
Dipping into your retirement savings can have a big impact on your nest egg.
It is possible to start withdrawing qualified retirement funds earlier than age 59½ through a 72(t) distribution. But you need to follow the rules exactly to avoid getting stung with a 10% tax penalty.
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Social Security and Medicare Workshop
With Elaine Floyd, CFP®
May 12–15, 2025
The Discovery Meeting Workshop: Transform Your Discovery Process
May 19–20, 2025