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When must you start taking Retirement Plan Distributions?

Posted by on Dec 24, 2012 in Blog | 0 comments

You can take out any amount at any time from your retirement plan without facing an early withdrawal penalty once you have reached age 59½, but you must begin withdrawing minimum annual amounts from your plan once you reach age 70½.

You must begin withdrawing minimum annual amounts from your plan once you reach age 70½.

If you fail to take out the required minimums, you may face a 50 percent excess accumulation tax. TheInternal Revenue Service imposes the tax on any part of the annual minimum distribution that you fail to take.

Distribution of Retirement Benefits at death

Posted by on Dec 24, 2012 in Blog | 0 comments

Retirement fund assets go directly to the benefiiary named on the account. In most cases, the beneficiary should be named individuals, but sometimes a trust or a charity is an appropriate beneficiary. Using the beneficiary option allows the proceeds to bypass probatecourt. The beneficiary, if a married qualified retirement plan participant does not specify otherwise, defaults to the spouse. That is appropriate in many, but not all, family situations. Furthermore, the spouse would have to consent in writing in order for the plan proceeds to be payable to anyone else.

Annuity Tax advantages

Posted by on Dec 24, 2012 in Blog | 0 comments

Perhaps the second most attractive annuity feature is the ability to defer taxes during theaccumulation period. As long as the earnings generated remain in the annuity account, no federal or state income taxes are due. Once the money is annutized—given over to theinsurance company in exchange for a stream of payments over a predetermined period of time—a portion of each payment is taxed according to an IRS formula, while another portion is considered a return of premium, assuming premiums were paid with taxable dollars.

Arkansas Student Loans

Posted by on Apr 30, 2012 in Student Loans | 0 comments

Arkansas residents who have state pride and are planning to attend college within Arkansas will be well paid for their state pride.  This is because as a way to keep the high caliber higher education students within their state, Arkansas has created some great Arkansas student loan options that are only available to Arkansas residents attending school within the state of Arkansas.

If you are a college student in need of a little extra funding, (and let’s be honest, what college student couldn’t use a little extra tuition money these days?) then these would be some excellent Arkansas student loan options for you to consider.

Arizona Student Loans

Posted by on Apr 27, 2012 in Student Loans | 0 comments

This is a rough time for students.  The average cost of University tuitions is rising at twice the rate of the national inflation.  This means trouble for students wanting to further their education.

Many students are having to fill in this monetary gap by taking out student loans for students with bad credit or young credit.  Each state has their own unique set of bad credit student loans meant to help the students trying to struggle through school in their own state.

5 Ways to Raise Your Low Credit Score

Posted by on Apr 23, 2012 in Student Loans | 0 comments

Low credit and bad credit is a curse that many Americans are dealing with right now.

Low credit can keep you from doing many things in this society from buying a house, qualifying for a loan, renting a residence, purchasing a car, and even renting important items.

It can be very frustrating to be bogged down by a low credit score, but you don’t have to stay that way. There are some good things you can do to raise your low credit score.  Here are 5 ways to raise your low credit score:

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