Retiring SHARP

Kudos to Gen Z!

The rules guiding the inheritance of an individual retirement account (IRA) when the IRA owner dies are complicated, but at least one aspect is straightforward: Whether a spouse or non-spouse is named the beneficiary of the account when the IRA owner dies, the current tax law allows the inheritance, or the total sum in the account, to be accepted tax-free.

Inherited IRA Rules: Non-Spouse and Spouse Beneficiaries You can inherit an IRA tax-free but you could be hit with a 50% penalty if you don't follow the rules for required minimum distributions (RMDs).

An alarming proposal to fix Social Security funding woes:

Killing 401(k) Tax Benefits Could Help Save Social Security, New Research Shows Workers would lose a key retirement planning benefit as a tradeoff for funding Social Security.