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Retirement Planning

Required Minimum Distribution (RMD)

The Internal Revenue Service (IRS) requires individuals with an Individual Retirement Account (IRA) to withdraw a minimum amount each year once they reach the age of 70½. This is known as the Required Minimum Distribution (RMD). It is important for IRA owners to understand and comply with this rule to avoid potential penalties and maximize their retirement savings. Let's delve deeper into the concept of RMD and its implications for retirement planning.

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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Target Date Fund

A target date fund is a type of mutual fund that adjusts its risk level based on the investor's target date, usually their estimated retirement date. This is achieved by gra...

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Required Minimum Distribution (RMD)

The Internal Revenue Service (IRS) requires individuals with an Individual Retirement Account (IRA) to withdraw a minimum amount each year once they reach the age of 70½. Th...

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Investment Portfolio Definition

A key concept in finance is the investment portfolio, which refers to a collection of assets owned by an individual or institution. These assets can include real estate and ...

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