A tale of two retirees “Tom” spent more than 35 years in the oil and gas industry and human resources for a large healthcare organization. He retired at the age of 61. Today, he is active in the community, can often be found on the golf course, and volunteers in various ways, including at a […]
Retirement—A Journey That Involves Transition and Opportunity Read More »
According to a 2024 report by the Treasury Inspector General for Tax Administration (TIGTA), Americans made early distributions of $12.9 billion in 2021. Early distributions—those taken before age 59 ½—are subject to a 10% additional tax or early distribution penalty. To that end, the following are some of the strategies that you can utilize to
How to Avoid the 10% Early Distribution Penalty: Part 1 of 2 Read More »
An IRA, or Individual Retirement Account, is intended to assist you in saving for retirement. As the name implies, the account is for an individual. It cannot be held jointly with your spouse or another person. An IRA offers significant advantages, including: Tax advantages include tax-free growth on Roth IRA accounts and tax-deferred growth on traditional
Understanding the Ins and Outs of IRA Accounts Read More »