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What Your Heirs Should Know About IRAs

Heirs routinely lose a large percentage of inherited IRAs to unnecessary taxes. The rules are simple, but they aren't obvious and most heirs don't know about them or to ask about them. If you don't want a large portion or your hard-earned...

Published 11-12-2009 1:28 PM by Bob Carlson

Filed under: Estate Planning, IRA Benefits, Traditional IRA, estates, Estate tax, Carlson, Bob Carlson, iras, ira distributions, estate taxes, small business

When It Pays to Mix Annuities and IRAs

Most of the time it’s not a good idea to combine an IRA with an annuity. The IRA already has tax deferral, so why take on the costs and limitations of an annuity? But there are a couple of times when it may make sense to mix an annuities with an...

Published 10-02-2009 10:25 AM by Bob Carlson

Filed under: Estate Planning, IRA Benefits, Traditional IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, estate taxes, retirement plans, annuities

Who Will Benefit from Your IRA?

One of the most important decisions about an IRA is naming the beneficiary or beneficiaries. There are many candidates for the biggest mistake made by IRA owners, and a leading contender is the failure to name a beneficiary or naming the wrong beneficiary...

Published 09-24-2009 8:17 PM by Bob Carlson

Filed under: Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, Carlson, Bob Carlson, wills, iras, ira distributions, estate taxes, grandkids, grandchildren, retirement plan

Your IRA and Your Heirs

The unfortunate fate of many IRAs shows why everyone needs an estate plan, even when the value of the estate is far below the taxable level. Few people are aware of what could happen to their IRAs when the next generation inherits them. Most people, and...

Published 05-29-2009 4:22 PM by Bob Carlson

Filed under: Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, Carlson, Bob Carlson, wills, income taxes, iras, trusts, ira distributions, estate taxes, retirement plan, retirement, retirement plans

A Dangerous Retirement Myth

Many retirement plans fall short of their goals because they were built on myths and misunderstandings. Most of my work at Retirement Watch falls into two categories. The first category is determining changes that should affect retirement plans. The second...

Published 04-17-2009 10:15 AM by Bob Carlson

Filed under: IRA Benefits, Traditional IRA, Roth IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, retirement plan, retirement, medical expenses, retiree health care, retirement plans, investments

IRA Inheritance Disasters: A Case Study

One point I try to emphasize regularly in my newsletter and web site is the importance of the beneficiary designation form for IRAs, pensions, annuities, and a few other assets. Yes, a will or living trust are very important to your estate plan. They...

Published 04-10-2009 4:55 PM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, Carlson, Bob Carlson, wills, iras, estate taxes, retirement plan, retirement plans, insurance

Dos and Don'ts of IRA Investing

Many people own substantial IRAs and have the bulk of their investment portfolios in IRAs. Some of these investors might not realize there are investments that are prohibited from IRAs and others are allowed but incur tax penalties. The issue of how to...

Published 04-03-2009 10:18 AM by Bob Carlson

Filed under: Bob Carson, IRA Benefits, Traditional IRA, Roth IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, real estate, retirement plan, retirement, retirement plans, employer stock, stock, selling a business, small business, stocks, investments, portfolios

Time to Stop Deferring Taxes?

Conventional investment advice has been turned on its head by changes in the fundamentals of the economy and markets. Now, fundamental changes in the government, demographics, and the economy are forcing changes in tax policy and tax planning advice....

Published 03-19-2009 1:34 PM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, Carlson, Bob Carlson, income taxes, iras, ira distributions, estate taxes, retirement plan, retirement, retiree health care, retirement plans, stock, stocks, stock market, portfolios, income investing

2009 a Key Year for Roth IRA Conversions

Converting a traditional IRA to a Roth IRA has been a valuable tool to consider since the Roth was created in 1997. There are two reasons why a conversion is worth far more consideration now than in the past . First, a brief review of the basics. A Roth...

Published 01-09-2009 3:05 PM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Carlson, Bob Carlson, income taxes, iras, ira distributions, retirement plan, retirement, financial crisis, retirement plans, stocks, portfolios

A Tricky Year-End for IRA Owners

Update Dec. 19: On Dec. 11 Congress passed legislation that suspended the required minimum distribution requirement for 2009. But it did not change the requirement for 2008. the IRS was asked by members of Congress to suspend the requirement for 2008...

Published 12-05-2008 9:15 AM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, retirement plan, retirement, financial crisis, retirement plans, stock, stocks, stock market, investments, portfolios, market timing

Your Retirement Plan and the New Washington

Come January, Democrats will be in charge all over Washington. They campaigned on a theme of change, and we should expect major changes. The questions are which changes and how will they affect your retirement finances? I will focus on the changes I think...

Published 11-07-2008 12:44 PM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, taxable gifts, gifts, Carlson, Bob Carlson, wills, income taxes, iras, ira distributions, estate taxes, retirement plan, retirement, financial crisis, retirement plans, stock, stocks, stock market, investments, portfolios, market timing, market indicators

Maximizing the New Roth IRA Opportunity

The markets created an opportunity for investors to convert traditional IRAs to Roth IRAs. The opportunity will last only as long as the financial crisis lasts and markets are bearish. Investors who converted their IRAs into Roths earlier this year probably...

Published 10-17-2008 6:05 PM by Bob Carlson

Filed under: Bob Carson, IRA Benefits, Traditional IRA, Roth IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, grandkids, grandchildren, retirement plan, retirement, retirement plans

Avoiding IRA Inheritance Disasters

IRAs are supposed to be simple, but when it comes to inheritance IRAs are more complicated than most people realize. It is not unusual for IRA heirs to misunderstand some key rules. A wrong move or two triggers high taxes, often causing most of the IRA...

Published 09-19-2008 1:31 PM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, Carlson, Bob Carlson, wills, iras, trusts, ira distributions, estate taxes, grandkids, grandchildren, retirement plan, retirement, retirement plans, stock

Reducing the Mortgage on Your IRA

Most people are busy accumulating large balances in their IRAs and 401(k)s and managing the accounts. They forget that the IRS holds a mortgage on those accounts. You put mostly pre-tax dollars in the accounts and let income and gains compound tax deferred...

Published 08-07-2008 11:45 AM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, Carlson, Bob Carlson, income taxes, iras, ira distributions, estate taxes, retirement plan, retirement, retirement plans, annuities

Planning for New IRA Benefits in 2010

Retirement account owners, especially upper income owners, will receive significant new tax benefits in 2010. These benefits can be maximized if a plan of action is established now and implemented over the next few years. Two tax benefits begin in 2010...

Published 06-06-2008 3:02 PM by Bob Carlson

Filed under: IRA Benefits, Traditional IRA, Roth IRA, Bob Carlson

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