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Retirement Planning

Traditional IRA

Traditional Individual Retirement Accounts (IRAs) were created with the intention of incentivizing individuals to save for their golden years. This is achieved through three key advantages: tax deferral of interest and earnings, the possibility of deferring taxes on contributions, and the promise of a more financially stable retirement. With these benefits, individuals can better prepare for their future and ensure a comfortable and secure retirement.

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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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 ...

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Cash Balance Plan Definition

A cash-balance plan is a type of pension plan that differs from traditional plans in the way benefits are calculated. Instead of receiving an annual payout in retirement, wo...

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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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