Article written by UK based moneysupermarket.com. This article is definitely for the UK based readers of My Journey to Millions, but I think it’s important to gain a different perspective of the account options available elsewhere. In the US the equivalent of an ISA is an IRA – Individual Retirement Account, so there is some…
As part of the economic recovery the federal government suspended required minimum distributions in 2009, but RMDs are back for tax year 2010 and forward so a Required Minimum Distribution primer is definitely needed. While there are actions you can take if you forget your RMD it is much easier to be proactive and actually take your RMD!…
I recently received a question from a reader, who I will refer to as TPS. TPS contacted me through my contact me page – if you have a question feel free to use it! TPS seems to be very confused, so rather than just answer the question I will post it so he can reply…
All the way back in September of 2008 I wrote a post titled, “Leave your Retirement Accounts Alone.” The Post was even mentioned in the Carnival of Personal Finance and I think either WSJ or MSN. Well it looks like no one listened (it may be because back then I had about 4 constant readers). …
The Supreme Court Has Spoken – Verify the beneficiary on your Retirement Account In a recent case the United States Supreme Court has made it clear, YOU BETTER KNOW WHO IS THE BENEIFICARY ON YOUR RETIREMENT ACCOUNT! The case dated Jan 26, 2009, titled, Kennedy v. Plan Administrator for DuPont Savings and Investment was decided by…
I briefly mentioned in my Article about Missing RMDs (Required Minimum Distributions) that RMDs were actually suspended for tax year 2009 (but remember not 2008!). Well, today I found a great Q&A/Follow up on the Wall Street Journal Personal Finance Section website. It is appropriately titled “Details on the New IRA Rule” and was written by…
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