Rebecca Lake is a retirement, investing and estate planning expert who has been writing about personal finance for a decade. Her expertise in the finance niche also extends to home buying, credit cards, banking and small business. She's worked directly with several major financial and insurance brands, including Citibank, Discover and AIG and her writing has appeared online at U.S. News and World Report, CreditCards.com and Investopedia. Rebecca is a graduate of the University of South Carolina and she also attended Charleston Southern University as a graduate student. Originally from central Virginia, she now lives on the North Carolina coast along with her two children.
A Roth individual retirement account can allow you to save for retirement while enjoying some tax benefits. Getting divorced can affect your savings strategy if you plan to withdraw some of your IRA money or you’re transferring money from it to your former spouse. It’s important to understand how the Roth IRA 5-year rule might affect you if you’re soon to be divorced. You may benefit from speaking with a financial advisor who might be able to help you create a financial plan in preparation for the future. Read more
Getting divorced can raise some important financial questions, including how to handle the division of retirement assets. If you and your soon-to-be former spouse have individual retirement accounts you might be wondering how to split an IRA in divorce equitably or whether you even need to. The division of those assets can depend on whether the accounts are considered marital or separate property and how property is divided in your state. Consider speaking with a financial advisor to help navigate you through this potentially complicated situation. Read more
If you contribute to a tax-advantaged retirement account at work or a traditional IRA, Required Minimum Distributions (RMDs) are something you’ll need to factor into your financial plan. These distributions are minimum amounts you’re required to withdraw from your retirement accounts once you reach age 72. You might be wondering whether you have to take RMD if still working. The answer is usually yes, though there are some exceptions. For a full understanding of how this rule impacts your personal situation, you could speak with a financial advisor. Read more
Opening an individual retirement accounts (IRA) can help you build wealth for the future while enjoying some tax breaks. One thing you’ll need to contribute to an IRA is earned income. The IRS… Read more
Choosing the right asset allocation matters for managing portfolio risk and reaching investment goals. One of the simplest strategies for setting asset allocation is to use a percentage split, such… Read more
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