The First Mandatory IRA Withdrawal

When discussing the initial mandatory IRA withdrawal, one can easily become confused by the rules and regulations on when the withdrawal should occur. Assets such as qualified retirement plans, 403(b) Plans, IRAs, SEPs, SIMPLE IRAs and section 457 Plans are all included in calculating a mandatory withdrawal. For more information about your first mandatory IRA withdrawal and to learn how your withdrawal is calculated, read this Financial Strategy.

Section 529 College Savings Plans

Section 529 College Savings Plans offer families an effective way to save for college costs including tuition, books and room and board. The advantages to 529 Plans include portability, tax advantages, age-based asset allocation and professionally managed portfolios. However, there are some disadvantages as well. For more information on these drawbacks and who should consider a 529 Plan, read this Financial Strategy.

Steps to Follow to Change State of Residency

When moving to a new state, you should take a few key steps to change your state of residency other than completing a change of address form at the post office. You should notify any social or religious organizations, creditors, the department of motor vehicles and the Clerk of the Circuit Court to name a few. For more places where you should make changes to your state of residency, read this Financial Strategy.

Economic Indicators

You read about them almost daily—GDP, CPI, Consumer Confidence—but just what are they and what do they mean? These are economic indicators that are based on statistics and surveys. The indicators provide economists, governments, investors and even the media information regarding our nation’s economic health. For explanations on each of these indicators, read this Financial Tip.