In 2016 the Department of Labor enacted new rules and regulations that will affect financial advisors who work with retirement assets like IRAs. In case you were wondering, that’s pretty much the entire industry.
On April 10th those changes were to go into effect.
Well, that was the plan anyway. Less than a week before the new rules were set to become law, the DOL delayed implementation of the fiduciary rule by 60 days.
Google, Netflix, Facebook, Amazon, Twitter, LinkedIn and now Snapchat. The list of “hot” companies that have gone public in recent years is long indeed. Not surprisingly, when popular companies go public the interest in purchasing shares of their stock at the Initial Public Offering or IPO always spikes.
Who wouldn’t want to get in on the ground floor of what may be the next big thing?
The IRS allows IRA and Roth IRA contributions to be funded right up until you file your taxes or until the tax filing deadline (not counting extensions), whichever comes first.
Abigail Adams statue, Boston, Mass. Photo credit: bostonzest.com
March is women’s history month. More than a century before women were given the right to vote, Abigail Adams became one of the first major female investors in American history. America’s second First Lady, she managed the family finances and did so quite well, accumulating a sizable estate through bond trading and other shrewd investments.
Over $23 trillion sits in various types of retirement accounts across America, according to the Employee Benefit Research Institute. Even that figure may be low. Since 2011 – when that figure was calculated — markets have increased and retirement savers have contributed even more to their plans, adding thousands of dollars to the average person’s retirement plan balance.
No doubt, trillions more sit in bank accounts, brokerage accounts, mutual funds and other types of “non-qualified” investment accounts.
But if you thought your most important retirement asset was some sort of financial account, you would be wrong.