Financial Ducks in a Row

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Beyond 401(k) and IRA

Photo credit: malomar You’re contributing as much as you’re allowed to a 401(k) or other employer-sponsored retirement plan. If your income allows it, you’re also contributing the maximum annual amount to your Roth or traditional IRA. But yo...

2019 Social Security Survey Results

In November and December, 2019, I sent out a survey covering Social Security filing strategies. The survey was sent to a closed Facebook group (dealing primarily with Social Security filing strategies), as well as to my blog readership and Twitter f...

7 Mistakes With Inherited IRAs

The inherited IRA, when implemented properly, can be a great vehicle for transferring wealth to your heirs, maintaining the tax-deferred status until much later. The problem is, there are some very specific terms which must be met in order to achie...

Inherited IRAs After the SECURE Act

There are now two sets of rules regarding how distributions to designated beneficiaries must be taken for inherited IRAs and other retirement plans, when the account owner has died in 2020 or later. For deaths in 2019 or before, the old “stretch ...

Qualified 529 Expenses

Money in a 529 plan may be used cover a wide range of expenses related to higher education. As we go through this section, we will also delineate between expenses allowed federally, but may not be allowed by some states. Qualified expenses include t...