Question: Can I Utilize the 1035 Exchange Provision for an Annuity I Inherited? Answer: Yes, you can...provided this is a non-qualified inherited annuity and not an annuity in an inherited IRA. An annuity in an inherited IRA would just be liquidated with the proceeds directly transferred to another inherited IRA.
What are the tax liabilities for retired people using 401(k) money to pay off a home equity line of credit?
I've been seeing a lot of questions lately about a so-called retirement plan variously referred to as "702(j)" or "702" or "7702." The Palm Beach Research Group breathlessly promotes it as President Reagan's secret retirement plan...something only the 1% are using. But wait, now you can get in on it too! Whoa! If President Reagan used it, it must be good, right?!
In 2015, you can contribute up to $5,500 of taxable compensation to a Traditional IRA, or $6,500 if you’re age 50+. If you participate in a retirement plan through work,
Question: I am 70 Years Old. I Have $180,000 to Invest from an IRA. How Much Will I Have to Take Out at 70 1/2?