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Retirement Planning

Required Beginning Date (RBD)

An important aspect of Individual Retirement Accounts (IRAs) is the Required Minimum Distribution (RMD). This refers to the deadline for IRA owners to withdraw a certain amount of funds from their account. The first RMD must be taken by April 1 of the year after the IRA owner reaches 70½ years of age. This rule ensures that individuals do not delay taking distributions from their retirement account indefinitely.

Contingent Beneficiary Definition

A contingent beneficiary is someone who is next in line to receive assets such as a life insurance policy, retirement plan, or annuity. While spouses are typically designate...

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Individual Retirement Accounts (IRAs)

An important aspect of personal finance is understanding retirement planning. One such option is the Individual Retirement Account (IRA), which offers various benefits such ...

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Death Distribution

Let us delve into the concept of IRA beneficiary distribution, which involves the disbursement of IRA funds to a designated recipient following the passing of the IRA owner....

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Joint and Survivor Payment Option (or Annuity)

As a knowledgeable finance professor, it is important to understand the various options available for annuity payments. One such option is the joint and survivor option, whe...

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