First, analyze your options if your employer has stopped matching 401(k) contributions. [Read more…]
The issues related to funding of an Individual Retirement Account (IRA) are particularly complex for baby boomers for several reasons. Fear of investing after what happened in 2008 is certainly one of them. Nevertheless, I think that all baby boomers should give strong consideration to funding an IRA in 2008 and 2009. [Read more…]
Congress recently passed legislation waiving required minimum distributions (RMD) from an IRA, 401k plan, and other qualified retirement plan for 2009. Based on that, some retirees age 70 1/2 and older who are subject to RMD rules waited to see if the Treasury would apply the RMD waiver for 2008 as well.
On December 18, the Treasury announced that the Required Minimum Distribution rules would apply for 2008. [Read more…]