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Retirement Planning

Life Expectancy

Life expectancy refers to the estimated duration of an individual's life. Interestingly, a person can have multiple life expectancies depending on various factors. For instance, the Internal Revenue Service (IRS) has a life expectancy calculation based on a person's current age. However, a doctor's estimation may differ due to factors such as overall health, smoking habits, stress levels, and genetic predispositions.

Rollover

Rollovers, a tax-free transfer of funds from one tax-qualified plan to another or to an IRA, are subject to certain requirements based on the source and recipient of the dis...

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Tax-Free

A tax-free account that allows for the growth of earnings through interest, dividends, and capital gains without being subject to income tax. This type of account, such as a...

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Early Retirement Penalty

other exemption A key concept in the realm of finance is the early distribution penalty, which is a 10% tax that must be paid when withdrawing funds from a retirement plan,...

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Individual Retirement Account (IRA)

An IRA, or Individual Retirement Account, is a retirement savings plan that offers tax benefits for those with earned income. It allows individuals to defer paying taxes on ...

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