If you will be eligible for student loan forgiveness and would like to plan for how this will affect your budget and retirement savings, please reach out to your advisor at SGK Wealth Advisors to address your specific situation.
But since nobody knows when that is in advance, that just raises the probability of missing the start of the next bull market. Being nervous in tumultuous markets is just a symbol of being human. Responding with panic, however, is a sign of not having the right plan.
Traditional IRAs require minimum distributions (RMDs) beginning at age 72. If this cash is not needed to cover living expenses, below are some alternative strategies to satisfy RMDs and reduce RMDs in future years:
Planning for one’s death can be daunting, but it is important to consider how your estate should be settled prior to your passing. If proper planning does not occur, you can open your family and loved ones up to added costs and significant delays of receiving their inheritance.
It is important to know the different tax treatments and potential penalties associated with any trades or withdrawals pertaining to your accounts. Below, we explain the tax treatment of different account types.