Retirement benefits

Clients may consider rebalancing their portfolio more often to address asset allocation shifts as a result of the downturn.

Gauging any possible changes to their health insurance coverage is just one consideration they must address before they retire.

A rule designed to prevent simple deduction abuses brings significant complexity to planning.

For starters, they can use the windfall to pay off debt, shore up their HSAs and build a cash reserve.

The IRS now says some unwanted RMDs can be undone, eliminating the tax bill

For one, clients will owe taxes still on the distributions, unless they recontribute the money into the account within three years.

Cash-strapped taxpayers may consider waiting until the new deadline to pay or to request a payment plan to buy more time to settle their tax bill.

“Traditionally, 401(k)s generally have some really good investment options that you wouldn’t be able to do on your own,” an expert says.

Retirees will end up locking in substantial losses if they decide to cash out their investments during a bear market to generate income.

Market volatility brought on by the coronavirus pandemic may present a great time to invest, as many stocks are being sold at bargain prices.