Perspective Matters KEY TAKEWAYS The date of death matters, not when you set up the account. If you inherited an IRA from someone who died in 2019 or earlier, you follow pre-SECURE Act rules—even if you didn't establish your inherited IRA account until 2020 or later.  The Required Beginning Date (RBD) determines your options. Whether the original IRA owner died before or after their RBD (April 1st of the year after they turned 70½) significantly impacts which distribution methods are...

Perspective Matters KEY TAKEWAYS You have three basic choices when you leave a job with a 401(k): leave it in an employer plan, cash it out, or roll it over to an IRA. Each choice has trade-offs that depend on your specific situation.  The rules are more complex than most people realize. Legislation continues to add layers of requirements, and a single mistake can create unexpected taxes or penalties.  Some mistakes cannot be undone. For example, the IRS has no authority to grant relief if...

Perspective Matters KEY TAKEWAYS Focus on net worth, not just savings or debt separately - Your financial health improves when assets grow faster than liabilities, which means sometimes keeping a low-interest loan while earning higher interest on savings is smarter than paying off debt early.  Choose the right debt payoff strategy for you - The Avalanche method (highest interest rate first) saves the most money, while the Snowball method (smallest balance first) provides quick wins that keep...