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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.

FDIC

The Federal Deposit Insurance Corporation, established by Congress, plays a crucial role in upholding the stability and public trust of the country's financial system. Its r...

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Roth IRA

The Roth IRA, a popular type of individual retirement account, was created through the Taxpayer Relief Act of 1997. Unlike traditional IRAs, contributions to a Roth IRA are ...

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Substantially Equal Periodic Payments

One commonly used method for accessing funds from an IRA before reaching the age of 59½ is through substantially equal payments. This approach allows for penalty-free distri...

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Earned Income

Income is a crucial concept in the world of finance. It refers to the financial return one receives for their physical or mental efforts and activities. This encompasses bot...

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