Retirement withdrawals

IRA investors can draw funds from their accounts tax-free if the money will be used to fund college tuition and other related costs.

Adding five years to their working years will enable clients to replace their pre-retirement income by up to 90% instead of 60% in some cases.

With lowered surcharge thresholds effective this year, strategies to manage the bite are a way for advisors to add client value.

Tax-free withdrawals could outweigh an employer's match if early withdrawals are made for expenses like health care.

Retirees should stick to their strategies and diversify their portfolios with various sources of income.

Seniors who are 70 1/2 and older should ensure that they take their first required minimum distribution from tax-deferred retirement accounts by December 29.

Clients should refrain from cosigning their child's student loan, as Social Security could garnish their retirement benefits if the child defaults on the loan payments.

If clients miss an RMD, they will be subject to a penalty equal to half the amount they should have taken, and they'll still owe ordinary income taxes on distributions.

There’s a powerful source of income hiding in your client’s home.

Investors are advised to do a Roth conversion before year-end to make the most of the federal tax deduction for state and local income taxes, which could disappear next year.