Do you happen to have after-tax money in your 401k or 403b, assuming the fees and expenses in the IRAs are comparable to the 401k or 403b? A rollover might be beneficial. In Notice 2014-54, the IRS provided the option for an individual to roll over their pre-tax retirement money into an IRA while rolling over their after-tax money into a Roth IRA. If left in the plan, future earnings from the after-tax investments are
The breakeven point for someone whose full retirement age (FRA) is age 66 but who takes Social Security at 62 is age 78. After that age, the total payments received would have been larger if they had waited until age 66 to start their payments.
July 7, 2020, the Department of Labor issued a final rule to close the circle, begun by the 2010 Fiduciary Rule and the new SEC best interest rule. The DOL rule brings back the five-point test to determine if an advisor is a fiduciary.
Beginning June 30, 2020, broker-dealers will operate under a new standard called Regulation Best Interest. This requires brokers to better align their interests with those of their clients by eliminating conflicts of interest, such as proprietary product requirements, sales quotas, or sales contests.