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Most IRA account holders are probably aware that they need to withdraw some amount of money from their account after they reach a particular age. This amount of money is known as a Required Minimum Distribution (RMD). But the specifics of the rules, which do not apply to Roth IRAs, can be difficult to understand. A recent Genius Session may offer confused IRA investors some clarity.

One common source of confusion in understanding RMDs is what’s known as the Required Beginning Date—the date by which an IRA owner must begin receiving distributions. The RBD occurs on April 1 in the year after the account owner reaches the age of 70.5. The above graphic helps to illustrate this point. Even though John and Mary turn 70 in the same year, Mary’s RBD is after John’s because she doesn’t reach the age of 70.5 (ie, 70 years and 6 months) until the following calendar year.

Determining the amount of the RMD...

13 Powerful Social Media Stats and Trends to Know for 2013

Originally posted by Financial Social Media

By: Amy McIlwain

For the past several years, social media has been a conversation that was spoken of being as a “new” phenomenon. At first, people adapted to the new...

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Happy Holidays

Happy Holidays from your Trust Company of America marketing team!

Wishing you a successful year in 2013

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Five Often Missed Elements on Financial Advisor Websites

While the majority of advisors have a website,  there are some common elements that many tend to overlook. Although these elements may not seem very impactful, they contribute to making your site look tailored, comprehensive, and easy to use. As you read, start a mental checklist to...

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4 Brilliant Holiday Ideas for Financial Advisor Clients

Originally posted by Financial Social Media.

By: Amy McIlwain

It’s that time of year again! The holidays are just around...

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