What is a Required Minimum Distribution? A required minimum distribution is the amount that owners of tax-deferred retirement accounts must begin withdrawing from their accounts by April 1 following the year they reach age 70 ½ . RMD rules apply to tax-deferred retirement accounts including: Traditional IRAs ...
What is a Spousal IRA? Spousal IRA’s are an effective way to save for retirement if one of the two spouses is a stay at home parent or does not have earned income. A spousal IRA is simply an IRA that is owned by the non-working...
What is a Roth Conversion? A Roth conversion is the process when you convert your Traditional IRA to a Roth IRA. You generally will have to pay ordinary Income taxes on the amount that is being converted into a Roth IRA but doing so will allow...