Non-Spouse Inherited IRAs
Our experts discuss a case study involving a non-spouse inherited IRA and what the withdrawal options are for the beneficiary.
Our experts discuss a case study involving a non-spouse inherited IRA and what the withdrawal options are for the beneficiary.
The week began with mixed results as the Dow Jones Industrial Average and NASDAQ added marginal gains, while the S&P 500 closed slightly in the red. Investors likely traded with caution in anticipation of comments coming from the Federal Reserve meeting that were due later in the week. Mixed results continued the following day as West Texas Intermediate crude dipped 2.3% to settle at $36.34 a barrel and a variety of economic news was released. U.S. retail sales decreased in February, falling 0.1%, which was in line with estimates. Sales for January were downwardly revised to a 0.4% retreat. Stocks were up midweek on comments from the Federal Reserve’s two-day meeting. Policymakers held interest rates unchanged and now anticipate two rate hikes this year versus December’s forecast of as many as four. Meanwhile, West Texas Intermediate crude tacked on 4%, providing a boost to Energy sector stocks. The Consumer Price Index dipped 0.2%; however, the core measure, which discounts food and energy, ticked up 0.3%. Thursday saw Energy stocks increase as crude oil touched $40.20 a barrel. The rally continued on Friday, spurred by a variety of economic news. In a preliminary measure, the University of Michigan Consumer Sentiment Index fell 1.7 points in March to a reading of 90, which was shy of the consensus forecast for a slight uptick. The rally from Wednesday to Friday was able to push the S&P 500 into positive territory year to date.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explores accessing retirement funds through substantially equal periodic payments. Read the Article
Deducting business expenses is more complicated than it seems. Learn what is deductible in this week’s Business Tip.
The length of your waiting period affects the cost of your disability insurance premium. Read more in this week’s Insurance Tip.
Not all those hired to work in a taxpayer’s home are considered household employees. We explain in this week’s Tax Tip.
Tax season brings many things: shoeboxes of receipts, checkbooks, refunds, and unfortunately scammers and identity thieves. It’s not just the phony IRS emails either. This year the Georgia Department of Revenue has been flooded with phone calls regarding calls they didn’t make to many taxpayers. This article from the Atlanta Business Chronicle explains the latest…
If federal loans don’t cover the cost of college, many borrowers look to private student loans. Read all about it in this week’s Financial Tip.
Our experts discuss a method of accessing retirement funds before age 59 ½ that can help avoid incurring an early withdrawal penalty.
The week began with both the S&P 500 and the Dow increasing for a fifth session in a row, marking their longest winning streaks since October. A rebound in commodities prices helped stoke the recent rally. Oil prices have risen steadily since Russia, Saudi Arabia, Venezuela and Qatar agreed last month to freeze their output at January levels. Additionally, Friday’s strong U.S. jobs report calmed concerns, helping interest rates edge higher. The next day, the five-day winning streak was snapped as supply woes weighed on oil prices and worries about a prolonged slowdown in China resurfaced. Crude-oil tumbled, leading the market to resume its doubts over the potential for an output freeze. Gains in utilities and consumer-staples stocks imply that investors remain cautious in the wake of the recent rally. Stocks ticked higher Wednesday, led by a rise in energy shares after government data showed inventories of gasoline and other fuels fell, reflecting strong demand. In a pleasant surprise, wholesale inventories rose 0.3% in January, the first increase after three months of declines. Analysts expect Fed officials will likely to keep short-term interest rates unchanged at their March meeting, but leave open the possibility of rate rises in April and June. The European Central Bank cut interest rates in the Eurozone to zero, expanding its money printing program as it seeks to revive the region’s economy and fend off deflation. Indices closed the week well into the green zone on Friday. Energy stocks traded up on a jump in crude oil.