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Retirement Planning

Required Beginning Date (RBD)

An important aspect of Individual Retirement Accounts (IRAs) is the Required Minimum Distribution (RMD). This refers to the deadline for IRA owners to withdraw a certain amount of funds from their account. The first RMD must be taken by April 1 of the year after the IRA owner reaches 70½ years of age. This rule ensures that individuals do not delay taking distributions from their retirement account indefinitely.

Qualified Retirement Plan Definition

A qualified retirement plan is a valuable tool for both employers and employees, offering tax advantages that are granted by meeting specific criteria outlined in the Intern...

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Life Cycle Fund

A life cycle fund, also known as a target date fund, is a type of mutual fund that adjusts its level of risk according to the age of its owner. As the investor approaches re...

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Coverdell Education Savings Account

A tax-advantaged savings account, formerly known as the Education IRA, that was introduced through the Taxpayer Relief Act of 1997 for the sole purpose of covering qualified...

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Employer-sponsored Retirement Plan

Let's delve into the world of retirement planning and explore the difference between Defined Contribution and Defined Benefit plans. These types of plans are widely used, wi...

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