IRAs

In one case, a 6-year-old owed $7,000 in federal taxes two years after his father, a U.S. Navy senior chief petty officer, died of a heart attack.

With longer life expectancies leading to increased health care spending later in life, experts are second-guessing the 10% savings rule.

“People didn’t want to use up their estate tax exemption,” but that has changed as a result of the new law, an expert says.

A market correction only becomes a real risk if investors act and make buy or sell decisions to alleviate mental anguish today at the expense of tomorrow, says an expert.

When financial emergencies compel early withdrawals from clients' retirement accounts, they face income tax and often an additional 10% penalty.

“Health care prices are increasing at levels that significantly exceed overall inflation,” an expert warns.

The earlier they begin planning, the easier it'll be to avoid a big tax hit.

Unfortunately, physical and cognitive decline are among potential side-effects.

The strategy only applies to investments held in taxable, not tax-favored, retirement accounts.

Clients who owe the IRS should pay their taxes by April 15 even if they have already secured an extension.