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Retirement Planning

Roth IRA

The Roth IRA, a popular type of individual retirement account, was created through the Taxpayer Relief Act of 1997. Unlike traditional IRAs, contributions to a Roth IRA are not tax-deductible. However, if certain IRS guidelines are followed, the earnings from a Roth IRA can be withdrawn tax-free. This makes the Roth IRA a valuable tool for saving for retirement.

Earned Income Rule

An important factor to consider when contributing to an IRA is eligibility. Both Traditional and Roth IRAs require an individual to have earned income in order to contribute...

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Required Minimum Distribution

A crucial aspect of managing your retirement funds is understanding the concept of Required Minimum Distributions (RMDs). These are mandatory withdrawals from qualified retir...

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Lump Sum Distribution

In the world of finance, there exists a term that may sound unfamiliar to some: a lump-sum distribution. It refers to the entire amount of money in a 401(k) account or other ...

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Term Certain Payment Option

An annuitant may choose from various options for payment, including the term certain option. With this selection, payments will continue for the minimum of either the number...

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