TITLE

Ed Slott on Roth IRAs, Automatic IRAs, and Retirement Planning

AUTHOR(S)

Buttell, Amy E.

PUB. DATE

October 2010

SOURCE

Journal of Financial Planning;Oct2010, Vol. 23 Issue 10, p20

SOURCE TYPE

Academic Journal

DOC. TYPE

Article

ABSTRACT

The article discusses aspects of financial planning relative to the issues involved in Roth individual retirement accounts (IRAs), automatic IRAs and retirement planning in the U.S. It states that a Roth IRA conversion is essential for retirees since it will increase their income and Medicare Part B premiums while eliciting tax on social security unlike the traditional IRA which is subject to a required minimum distribution. It mentions that automatic IRA allows employees of small businesses to save for their retirement especially if they do not have a retirement plan. It notes that financial advisers need to examine their client's balance sheet and see what kind of money they have, ensuring that more of these money end tax-free.

ACCESSION #

54427731

Tags: FINANCIAL planning;  INDIVIDUAL retirement accounts;  RETIREMENT -- Planning;  RETIREES;  RETIREMENT income;  MEDICARE Part B;  SOCIAL security;  FINANCIAL management

 

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