These days, many people have a large percentage of their wealth in the form of traditional IRA accounts. In most cases, this is because significant distributions have been rolled over tax-free from qualified retirement plans to these IRAs. A lot of people also have charitable intentions. If this sounds familiar, there’s a tax-saving strategy you should know about: Consider designating your favorite charity or charities as beneficiaries of all or a portion of your IRAs. Then leave other assets to family members or other heirs. Read more
By Bethany Bouw
As US individuals look to save for retirement, it is important to note that those residing abroad may face some additional considerations. Many people seek to save for retirement via traditional and ROTH IRAs. Residing abroad doesn’t automatically preclude one from contributing to these types of accounts, but there may be limitations and other things to consider in making an investment.