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Spousal IRA Definition

This allows for a more balanced retirement savings strategy within a household.

As a knowledgeable professor in finance, it's important to understand the concept of Spousal IRAs. These unique retirement accounts allow non-working spouses to contribute the full amount to an individual retirement account, as long as their working spouse earns enough to cover the contribution. This money then belongs to the non-working spouse, regardless of the source. This provides an opportunity for a more balanced retirement savings approach within a household. Whether choosing between a traditional or Roth IRA, income caps and contribution limits still apply.

Non-qualified Retirement Plan Definition

A non-qualified retirement plan, often referred to as a NQRP, is a type of pension plan that does not meet the criteria for special tax treatment under the Internal Revenue ...

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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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Death Distribution

Let us delve into the concept of IRA beneficiary distribution, which involves the disbursement of IRA funds to a designated recipient following the passing of the IRA owner....

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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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