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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.

Term Certain Payment Option

An annuitant may choose from various options for payment, including the term certain option. With this selection, payments will continue for the minimum of either the number...

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Contribution Percentage Definition

A contribution percentage is a crucial aspect of your workplace retirement plan. It involves deciding how much of your paycheck you want to put towards tax-deferred contribu...

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Suitability Standard

When considering the role of a broker in financial transactions, it is important to understand the level of responsibility they hold towards their clients. Unlike an investm...

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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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