The Complete Cardinal Guide




IRA Strategizing 

 Ed Slott, a CPA, has developed a reputation as “America’s IRA expert” (see IRAHELP.com). I have completed IRA-specific training with Ed beyond my Certified Financial Planner™ training, and we continually receive training in IRA planning. Don’t try IRA planning on your own. Seek an advisor and attorney who know what they’re doing with IRAs.

 Transfer IRA money from custodian to custodian. Don’t touch the money unless you want to risk paying taxes on it.

 Update your beneficiary forms regularly. IRA money goes straight to the named beneficiary after death, bypassing the will.

■ Required minimum distributions (RMD) must start after age 70½. In simple terms, you have grown, you have postponed taxes for years, and the government wants their money. Mistakes are costly and it is very hard to plead for mercy from the IRS. 

 Stockpiling money in an IRA and taking only the minimum distributions so you can leave it to your kids is not a smart estate planning strategy. There are ways to pay the taxes during your lifetime and leave tax-free money to your heirs.

 Long-term care implications for IRAs: This is the second place your caretakers usually go for money to pay the long-term care bill (after your Social Security check). IRA withdrawals are taxable as ordinary income, and the long-term care bill creates a corresponding tax deduction as a medical expense. But you need smart planning to optimize using your IRA for long-term care.

 For more information or help with your IRA, fill out the form below!

Give your Grandchild the Gift of an IRA

Almost every client we talk to wishes they began saving for retirement sooner. Since you can’t turn back the clock, why not improve your child, or even grandchild’s, prospects for building adequate retirement savings? What better way to teach them about money,...

IRA Planning and Required Minimum Distributions

You’ve been putting money away for years thinking retirement was a distant point that would never come. Now, it has arrived as promised, and you get to enjoy the benefits of your planning and saving. But the planning doesn’t stop here. If you don’t continue to plan the details of your retirement account you could lose some of your hard earned savings Required Minimum Distributions (RMDs) are just another of a long line of acronyms and jargon you’ll need to become familiar with in order to plan effectively.

Useful Documents.

Read the IRA chapters of “The Complete Cardinal Guide to Planning for and Living in Retirement” and the accompanying “Workbook”!

For quick instructions how to calculate your RMD, click the link below.  

Calculate Your RMD as Easy as 1,2,3

For a better understanding of the options available for an inherited IRA, click the link below.

Spousal IRA Beneficiary Decision Tree

Contact Us.

Form Submission - Retirement Income Page

7 + 10 =

Buy Our Book.

Call (919) 535-8261 today for a FREE quote comparison of more than 30 companies!

Making Medicare (and retirement) Easy

Our site and our agents are here to give you valuable, unbiased information about your Medicare choices. Find out more info about Parts, Plans, and prescriptions quickly.

Support for Life

We provide lifetime assistance with your insurance policies. We're here to help you sort through the statements, resolve unpaid claims, and search for affordable options that fit your needs. You are not in this alone.

We work for you, not the insurance companies

No more having to find the only guy in town who sells for one insurance agency. At Cardinal, we are licensed in all 50 states and D.C. with clients in every location. We sell for over 30 insurance companies, and can get you the best priced plan for your needs.

Office Locations:

Durham Office
2530 Meridian Parkway, Suite 100
Durham, NC 27713
(919) 535-8269

Charlotte Office
8307 University Executive Park Dr, Suite 252
Charlotte, NC 28262
(704) 412-6494

Connect with us:

Medicare experts paired with financial planners - CFPs®, fiduciaries, required to put our clients first.

Want to get important updates first?

Want to get important updates first?

Don't miss out on any important info, from Medicare deadlines to taxes, we will keep you updated! Try it out, you can always unsubscribe at any time. 

You have subscribed! Thanks!