Keeping Beneficiary Designations Up To Date: Nicole Gopoian Wirick, JD, CFP® of Prosperity Wealth Strategies discusses the importance of naming and regularly reviewing beneficiary designations. Beneficiary designations control where assets like retirement accounts, life insurance policies, and bank accounts transfer upon death, overriding wills and trusts.

Unexpected windfall? Don’t let it derail your Roth IRA plans! This Ask the Hammer episode tackles a common dilemma: what to do if a sudden capital gain pushes you above Roth IRA income limits after making a contribution.

Don’t Mess Up Your HSA! Key Timing Tips for Social Security & Medicare: Contributing to an HSA and nearing retirement? In this episode of Ask the Hammer, Jeffrey tackles the tricky timing of applying for Social Security and Medicare while keeping your HSA tax benefits.

In this episode of Retirement Daily, Bob Powell and Dana Anspach discuss Mortgage Recasts.

Inheriting Your Spouse’s IRA? Don’t Stretch, You Might Have Better Options: Spouses inheriting an IRA have unique benefits compared to other beneficiaries. You may not need the “stretch IRA” strategy.

An Ask the Hammer listener inherited an IRA and qualifies to stretch it over their lifetime. They skipped RMDs for 2021 and 2022 but caught up later. Recent IRS guidance offers relief for some beneficiaries, but this listener likely still needs to take their 2023 RMD. The guidance only applies to those using the 10-year distribution rule, not those stretching the IRA. To avoid penalties, they should take their 2023 RMD before year-end. However, future RMD rules remain unclear due to ongoing legislative changes and lack of finalized regulations.

Nicole Gopoian Wirick, JD, CFP®, the founder of Prosperity Wealth Strategies, delves into the changing dynamics of financial management in marriages.

Be sure to check out the new functionality and watch the latest FinStream videos.

During a recent episode of ‘Ask The Hammer’, Jeffrey Levine with Robert Powell to dissect the integral topic of financial planning.

Are you ready for an unexpected expense? An Emergency Fund can help. Learn how to build it, how much you’ll need, and why it’s necessary!