Financial education
Beginner’s Guide to Saving for Retirement
Many young people would like to begin investing and saving for retirement but aren’t sure where to start. Whether you’ve just received your diploma, started your career or you’re ready to invest in a retirement account, we’ve created a guide to help …
Financial education
Attention Married Couples. Learn About Spousal IRAs.
What Is a Spousal IRA? A spousal IRA is a retirement strategy that allows a working spouse to contribute to an individual retirement account (IRA) that is in the name of a non-working spouse with no income or very little income. This is …
Financial education
IRA, 401(k) Limits Status Quo for 2021, Income Level Maximums Rise
There's good news and bad news from the IRS for Americans saving for retirement with IRAs, 401(k)s, and other retirement accounts in 2021. Let's start with the bad news: Contribution limits won't go up next year. And now the good …
Financial education
New Fraud Reporting Platform for Consumers: ReportFraud.ftc.gov
The Federal Trade Commission has launched a new website, ReportFraud.ftc.gov, where consumers can easily report fraud and all other consumer issues directly to the FTC. “Every time you report scams or bad business practices to the FTC, you’re …
Financial education
New Law Changes Payout Timeframe for IRA Beneficiaries
The SECURE Act ends the stretch IRA. Under the now “old rules” (before 2020), an individual designated beneficiary could extend post-death “stretch IRA” required minimum distributions over his lifetime. A young grandchild might have a 70-year payout …