RMDs
Checking In with Ara – October 2023
Hey everyone! Ara here bringing you your monthly update. I’m getting ready to go on a quick weekend trip with my mother to visit family down in Mexico City. This will be a fun opportunity to spend quality time with her and connect with extended family. We’re going to visit our relatives who own a… View Article
How To Keep Your Parents Financially Safe- Episode 140
As our parents age, it’s only natural for us to want to keep an eye on them to make sure their finances stay in good order: bills paid, taxes done correctly, RMDs taken, etc. Sometimes that’s much easier said than done. How do you make sure your parents are on top of their financial situation… View Article
Know This Before You Transfer Assets to Your Heirs
Here at Lucia Capital Group, we do a lot of work with clients who are planning to pass their assets to their heirs once they’re gone – usually it’s their kids, but not always. In either event, it’s important to know what the benefits and consequences are of inheriting tax-deferred retirement accounts. It’s that… View Article
How SECURE Act 2.0 Will Affect Your Income and Taxes
The SECURE Act 2.0 was passed at the end of 2022, and there are dozens of provisions in it that may potentially affect you and your retirement savings. What we want to focus on today has to do with Required Minimum Distributions, or RMDs. The RMD is what forces you to draw certain minimum amounts… View Article
RMD Age Is Now Higher – But Should You Really Delay Your IRA Distributions?- Episode 122
As of 2023, the age when you must begin taking Required Minimum Distributions from your IRAs has been increased. This means you may have as many as three extra years to allow your savings to grow tax deferred. This may sound like a great idea: why pay taxes now when you can delay the inevitable… View Article
Secure Act 2.0: Your Financial Life Is About to Change- Episode 121
The SECURE 2.0 Act is now law. The legislation was signed by the president in late December of 2022, and it provides a whole slate of changes that are designed to help strengthen the retirement system—and Americans’ financial readiness for retirement. The Act itself contains dozens of provisions, building on earlier legislation that, among other… View Article
5 Things to Do Before the End of 2022
Getting Ready for 2023 As we begin to wind down 2022, it’s time to start thinking about some of the things that you really need to take care of before the new year gets underway. With all of the volatility we’ve seen in the stock market, as well as the sudden, dramatic rise in interest… View Article
5 Financial Moves to Make Before the End of the Year- Episode 114
As the year winds down, your opportunity window is also closing to get some things taken care of in 2022. Taxes, retirement plan contributions, RMDs, charitable contributions — these are things that need to be done before the new year. What money moves do you need to be concerned about while there’s still time? Tune… View Article