End Of Life Financial Planning https://www.youtube.com/watch?v=5PPPOVyYAmk Key Takeaways: 1. If someone is married and they pass away, this is the last year they can file a joint tax return, which may affect decisions on accelerating income for the surviving spouse....
Is the Inherited IRA RMD Waived in 2024? https://www.youtube.com/watch?v=jgVffctqrgc Key Takeaways: - You are not required to take a minimum distribution from your inherited IRA in 2024. - The IRS has extended the waiver for required minimum distributions for...
Beneficiary IRA, Inherited IRA, SECURE 2.0 Act - Video Episode 375 https://www.youtube.com/watch?v=BAUs4SFuBkM Key Take-aways: 1. Non-spouse beneficiaries cannot roll inherited retirement accounts into their own IRAs; they must set up a separate inherited or...
Secure 2.0 Act In this video, Tom attempts to briefly highlight nine points from the Secure 2.0 Act in four minutes or less! https://www.youtube.com/watch?v=Q-mRfVkqIX8 1. RMD changes 2. Larger catch-up provisions 3. Roth @ work - can be matched 4. Qualified...
Inflation Never Stops https://www.youtube.com/watch?v=PsptvORsSCE Key Take-aways: 1. Inflation operates continuously, similar to a "compounding machine," and rarely produces negative numbers, with a recent example being in 2009. 2. A decrease in inflation rates does...
Inflation Is Cumulative https://www.youtube.com/watch?v=mweZ7vjXxPo Key Takeaways: Inflation is cumulative, not just year-by-year; it builds up over time affecting the cost of goods and services. The rate of inflation can vary each year, but even when it decreases, it...
Automatic IRA Act of 2024 - Video Episode 372 https://www.youtube.com/watch?v=qhYZjpN9OUA Key Take-aways: 1. The "Automatic IRA Act of 2024" requires employers with ten or more employees to set up automatic retirement contribution plans for all full-time and...
Using a Roth IRA for a Down Payment - episode 371 https://www.youtube.com/watch?v=TFqmzwaPjGo Key take-aways: If your company offers a match, consider contributing up to the amount where you will get a match. If you have an option for a Roth 401(k) contribution, you...
The S&P 500: cap-weighted or equal-weight? https://www.youtube.com/watch?v=mn05Y_NfKZI Key Takeaways: Diversification is key to a smoother investment journey; different types of investments (e.g., mid-caps, small-caps, large-caps, international vs. US) perform...
Do I Owe Taxes on a Gift? https://www.youtube.com/watch?v=BiNYqSV99yI Key Take-aways from the question, "Do I Owe Taxes on A Gift?": If you are the recipient of a gift, you do NOT owe a gift tax on this money. In 2024, if you are a gift GIVER, you can now give up to...
