HEADLINE: The IRS has postponed for 2024 required minimum distributions (“RMDs”) for non-spouse beneficiaries of inherited IRAs. Details here. DETAIL: In legislation passed by Congress in 2019 non-spouse beneficiaries of IRAs would need to zero out accounts within 10 years. It was interpreted to mean that no distributions could be taken for the first nine [...]
On Friday the Internal Revenue Service announced it would continue to delay enforcing relatively new rules for inherited retirement accounts. The result of the delay is that some accountholders will be able to forgo taking a distribution for 2023. Prior to 2019 people who inherited retirement accounts could “stretch” distributions over their lifetimes. In 2019 [...]
Yesterday marked the end of the public comment period on the revised Free Application for Federal Student Aid. The form is traditionally available Oct 1st but given what the Department of Education called the “most ambitions and significant redesign…in decades” we shouldn’t expect to see it until Dec. One of the main goals of the [...]
It’s been well documented that the pain of loss exceeds the joy of gain. It logically follows that most investors would prefer to outperform a benchmark during a bear market (i.e. lose less) than a bull market (i.e. earn less). Seems intuitive. If markets are up 20% and you earn 15% you’re happy you’re making [...]
Apollo's chief loudmouth (our president Howard Haber) recently appeared on the Dr. Yvonne Kaye podcast to discuss balancing the professional and personal - enjoying helping people achieve their financial goals while maintaining his passion for cycling and animal welfare.
Oil is up. Everything else is down. I need to do something. What do I do? Here is a good place to start.
A deep dive into the OMB’s Historical Tables shows some interesting changes in federal mandatory v. discretionary spending when comparing 1965 to today: Mandatory spending has more than doubled. Social Security and Medicare are the drivers. Defense spending has been reduced by about 75%. The Bush/Thatcher peace dividend? Discretionary spending currently stands at a paltry [...]
The days of thoughtfulness are gone. Brevity is the new wisdom. Today if something can’t be expressed in less than 280 characters it isn’t worthwhile. We’re barely done with the first paragraph of this post and some of you are already itching to click off and go elsewhere. Impatience is everywhere. We don’t read prospectuses. [...]
From 10/26/20 - 11/13/20 the FINRA Investor Education Foundation surveyed about 1,300 households. the typical new investment account was opened by individuals age 45 and younger the top reasons for investing include saving for old age (~17%) and the ability to start with smaller sums of money (~16%) the least popular reasons for investing include [...]