by Hans E. Scheil | Dec 10, 2020 | IRA
Many people, especially in retirement, choose to give some of their savings to charities that are close to their hearts.Whether that is weekly tithings to the church, monthly recurring donations to your alma mater, or holiday giving at the end of the year, if you are...
by Hans E. Scheil | Sep 3, 2020 | IRA
Many people in their 50’s, 60’s, and 70’s, have a huge hunk of money sitting in their IRA or 401(k). Unless you are over age 72, you are not yet required to take distributions from these accounts and, if you are like most of our clients, you do not have a plan for...
by Hans E. Scheil | Aug 7, 2020 | Income Taxes, IRA
In retirement, taxes change a lot. A source of many of these changes comes from the fact that most retirees are now drawing from their IRAs for income. Roth IRAs are going to give retirees a triple crown of tax benefits with a proper plan in place for how to use this...
by Hans E. Scheil | Jul 16, 2020 | IRA
The purpose of an IRA, or a 401(k), is to fund your retirement and provide income when you are done working. While many retirees use their IRA for this exact purpose, others view it as a wealth transfer vehicle. Many people stuff a large portion of their savings into...
by Hans E. Scheil | May 26, 2020 | IRA
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed March 27, 2020, offers relief for qualified individuals suffering from COVID-19, specifically in terms of your retirement accounts. Make sure to not pull out or put money into these retirement...
by Hans E. Scheil | Apr 1, 2020 | IRA
Most Americans have retirement savings in an IRA or 401k account. This money is meant to create an income for you in retirement. Before reaching retirement, unforeseen circumstances can arise, and if money is needed, many people look to these accounts. If you are...
by Hans E. Scheil | Feb 18, 2020 | IRA
Most Americans have money set aside for retirement in a 401(k) or IRA. If your money is in a qualified account, you are subject to RMDs, or required minimum distributions. The recent passing of the Secure Act has caused the rules around RMDs to change. Whether you...
by Hans E. Scheil | Feb 13, 2019 | 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,...
by Hans E. Scheil | Aug 3, 2017 | IRA
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...
