Author: D.C. Poc
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Secure Act 2.0 529 to Roth
Unlike most things the government does, the Secure Act 2.0 actually paved the way for 529 to Roth IRA transfers for account owners who aren’t able to utilize all 529 funds for allowable college expenses. The Secure Act 2.0 529 to Roth transfer mechanism is possibly the greatest thing to come out of Congress inRead…
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Secure Act 2.0 RMD; How much will you pay?
The Secure Act 2.0 RMD rules made some significant changes to retirement plans. Among those changes included updating Required Minimum Distributions, aka “RMDs”. RMD rules apply to retirement accounts, namely 401(k), 457(b), 403(b), and Traditional IRA accounts. Secure Act 2.0 RMD impacts can greatly change your retirement outlook so pay attention! Secure Act 2.0 RMDRead…
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Purchasing an Oceanview Annuity? Try this instead!
Recently, lots of people have been searching for annuities from companies like Oceanview Annuity. This is understandable, considering 2024 is nearly upon us and people are trying to figure out how to stretch their retirement income the furthest. But before making the jump into an annuity, check out some alternative options we outline below. BrokerageRead…
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Stan the Annuity Man
Stan the Annuity Man is a self-proclaimed expert, however, he has a pretty good reputation throughout most personal financial groups. As you know, we take a pretty hard line against annuities here at the Wealthy Idiots. With that said, we’re obligated to give you unbiased advice. Sometimes that means acknowledging that some annuity products canRead…
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Annuity vs. 401k, which you should choose and why
There is a long running debate involving the annuity vs. 401k. For decades, people banter trying to prove their point that their personal choice is superior. In order to know which is better, if either, we need to take a quick look at the mechanics of each! What is an annuity? According to Investopedia, “an annuityRead…
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Don’t let Oceanview Life and Annuity sell you this annuity!
As always, there are thousands of financial products you have to sift through while drinking your daily coffee. Unfortunately, as you’re trying to watch Dancing With the Stars, you’re continuously reminded of all the bad options, like the Fixed Indexed Annuity from Oceanview Life and Annuity. Dubbed the “FIA”, this product should be avoided atRead…
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Why you should avoid a Venerable annuity like the plague!
It’s 2023 and there are thousands of financial products you have to sift through. Unfortunately, if you’re trying to watch a football game on Sunday afternoon you’re repeatedly reminded of all the bad options, like the Venerable annuity, while most of the good ones are glossed over. We’ll try to break it down for youRead…