|
|
|
While much attention has been directed to Baby Boomers' eligibility for Social Security in 2008, another important milestone has been largely overlooked. On July 1st, 2005, the first Baby Boomers reach retirement age-- as defined by the Internal Revenue Service. Those born January 1, 1946 turn age 59&1/2 today, and may withdraw from retirement accounts without the stiff tax penalties levied on early withdrawals.
|
The emphasis has been on accumulating money for retirement. July 1st, 2005 is important because if retirees take distributions from their retirement accounts too early or too fast, they may run out of money later when they're unable to work
Unlike Social Security or defined benefit pensions, most personal account plans—401(k), 403(b), SIMPLE plans and IRA’s- don’t provide a guaranteed income for life. To make sure their money lasts as long as they do, individuals and their advisors need new approaches.
On July 1, 2005 about 10,000 Baby Boomers will reach IRS retirement age —and every day for the next 19 years. July 1, 2005 symbolizes a new era for retirement education— the era of retirement income management,
This web site is dedicated to bring you information so you can have a quality retirement.
|
- Rolling your 401k: Contributory IRA vs. Rollover IRA
In an ideal world you would start your working career with a great company in your early 20s, steadily climb the corporate ladder, retire at age 65, and draw a sufficient income from your accumulated 401k...
- Saving for Retirement: IRA vs. 401(k)
Retirement was simpler when all you had to do was put in your time at work, retire and collect your check. Between the company pension and Social Security, most retirees figured they had it made. And if...
- 5 Simple Steps: Earn an EASY ROTH IRA MILLION!!!
5 Simple Steps: How To Earn An Easy Million Through a ROTH IRA!by Tom LevineSo, you wanna earn a million dollars, super-duper easy? How would you like the federal government to give you a big, huge tax...
- Rollovers to IRAs - Rules, Tips and Cautions
Rollovers can be a confusing subject. This is because rollovers can come from qualified plans, tax sheltered annuities, eligible Section 457 government plans and the five types of IRAs.Here, I will focus...
- Real Estate Options for Retirement Funds
With your retirement funds it is possible to invest in real estate, mortgages, private notes, structured settlements, factoring, hard money lending, franchise, natural gas investments, golf courses, joint...
- A Roth IRA, Is It For You?
Roth IRAs are some of the most sought after investments. But, why? What are they? Why should you invest in them? For many people, the investment world is somewhat of a mystery. We just do not know what...
- Convert To Roth IRA Regardless of Income - 2010
An odd quirk in the recent legislation to extend the Bush Tax Cuts is giving IRA holders a huge break. For one year, and one year only, the income cap will be gone. Convert To Roth IRA Regardless of Income...
- A Big Tax Loophole Just Got Bigger
Believe it or not, there are ways to convert taxable incomeinto non-taxable income, without any fear of an IRS audit.Heres one of my favorites. Its been part of our belovedtax code for over 30 years,...
- New Ira Rules Help Retirees And Seniors
Under the Pension Protection Act of 2006, there are some new items beneficial to IRA owners that the average IRA owner will miss:First, if you leave your employer and you had a tax sheltered annuity (typically...
- How safe is your retirement plan?
How safe is your retirement plan?As you plan for retirement, you may count on an employer sponsored "qualified" retirement plan such as a pension plan, profit sharing plan, or 401(k). Or perhaps you are...
| | | |
