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Retirement Planning

Required Minimum Distribution (RMD)

The Internal Revenue Service (IRS) requires individuals with an Individual Retirement Account (IRA) to withdraw a minimum amount each year once they reach the age of 70½. This is known as the Required Minimum Distribution (RMD). It is important for IRA owners to understand and comply with this rule to avoid potential penalties and maximize their retirement savings. Let's delve deeper into the concept of RMD and its implications for retirement planning.

Earned Income

Income is a crucial concept in the world of finance. It refers to the financial return one receives for their physical or mental efforts and activities. This encompasses bot...

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Suitability Standard

When considering the role of a broker in financial transactions, it is important to understand the level of responsibility they hold towards their clients. Unlike an investm...

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Age Rule

In order to contribute to a Traditional IRA, it is important to note that an individual must be under the age of 70 ½ for the entire year. This is a crucial rule to keep in ...

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Cost of Living Allowance (COLA)

"Welcome, students. Today, we'll be discussing the concept of Social Security benefits and its annual adjustments. As you may know, these adjustments are made to keep pace ...

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