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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.

Adjusted Gross Income

Income tax liability is a crucial aspect of personal finance. As a knowledgeable professor, I want to shed light on the concept of taxable income. This is the amount on whic...

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Social Security

Social Security is a government program that offers benefits for disability, death, and retirement to eligible individuals. All income is subject to Social Security tax, whi...

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Dollar Cost Averaging*

Dollar-cost averaging is a strategy for building wealth through investing that involves regularly purchasing a fixed dollar amount of securities at predetermined intervals, ...

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Diversification

Diversification in finance refers to the practice of minimizing risk by investing in a variety of industries or companies rather than focusing on a single industry or a smal...

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