Investing and Global Finance News

Planning for a More Flexible Retirement

As retirees reach age 73, the IRS requires them to begin taking annual withdrawals from most tax-deferred retirement accounts, known as required minimum distributions, or RMDs. These withdrawals are intended to ensure that retirement savings are eventually taxed, but they can also create unexpected financial challenges if not managed carefully. From higher tax bills to disruptions in investment strategy, RMDs can have a lasting impact. Fortunately, with proper planning and a clear understanding of the options available, retirees can take steps to minimize the burden and maintain greater control over their retirement income.

One decision is when to begin. While the IRS allows you to delay your first RMD until April 1 of the following year, this means taking two distributions in one calendar year—potentially pushing you into a higher tax bracket. However, if you’re still working at 73 and contributing to a workplace retirement plan, you may be able to delay RMDs from that specific plan.

Strategic asset selection also plays a vital role. Although the IRS dictates the total withdrawal amount, retirees can choose which assets to sell. Selling cash or bonds instead of equities during a market downturn can preserve growth potential. This approach also creates an opportunity to rebalance or adjust risk levels within the portfolio.

Planning ahead offers further advantages. Withdrawing funds early or converting traditional IRAs to Roth IRAs during low-income years can reduce future RMDs. Qualified charitable distributions (QCDs) offer another option by satisfying RMDs without increasing taxable income. 

Effectively managing required minimum distributions can help retirees preserve more of their savings, reduce unnecessary taxes, and maintain greater control over their financial future. While the rules around RMDs are fixed, the strategies for handling them are not. By planning ahead, choosing wisely when and where to withdraw, and exploring tools like Roth conversions or charitable distributions, retirees can align their withdrawals with both financial goals and tax efficiency. The key is not just to comply with the rules but to use them thoughtfully to support a stable and sustainable retirement.

GENIUS Act: A Turning Point for Stablecoin Regulation

The U.S. Senate has taken a significant step toward regulating the stablecoin market by advancing the GENIUS Act with strong bipartisan support. The bill, which passed 66–22, establishes clear rules for stablecoin issuers, requiring them to maintain equivalent reserves, provide consumer protections in the event of insolvency, and adhere to established anti-money laundering and counter-terrorism… Continue Reading

Disney’s ESPN Streaming Expands Viewer Options

Disney is set to introduce a new era in sports streaming by launching a direct-to-consumer ESPN service this fall. For the first time, fans will be able to access the complete lineup of ESPN channels and live events without a cable subscription, reflecting the steady decline of traditional TV viewership and the growing demand for… Continue Reading

Egg Prices: US vs. Canada

As egg prices in the United States hit record highs, the U.S. Department of Agriculture (USDA) is looking at Canada, where eggs remain plentiful and affordable, sparking interest in understanding the differences in egg production between the two nations. In Canada, consumers can pick from an array of egg types, with no shortage in sight.… Continue Reading

Top Tips for Back-to-School Shopping

With the start of August comes the bustle of back-to-school shopping. From elementary through high school, parents brace themselves for the steep financial outlay, with the average family expected to shell out around $875 on school essentials this year, a figure sourced from the National Retail Federation’s latest survey. Retail experts share top tips to… Continue Reading

Cell Phone Ban in NYC Schools

New York City, the nation’s largest school district, is preparing to ban phones in schools. David Banks, chancellor of New York City Public Schools, alongside Mayor Eric Adams, recently announced the upcoming policy, citing the addictive nature of phones among students as a primary concern. “They’re not just a distraction; kids are fully addicted now… Continue Reading

How Anu Saad Propelled a Cancer Testing Startup to the Forefront of Patient Care

This article was originally published on June 19, 2014.Based on the March 2002 article in IndUS Business Journal entitled “Anu Saad – Making her mark”. Anu Saad has led a remarkable transition from academia to spearheading impressive growth of a cancer testing startup she took over as CEO. With no prior business experience, Saad grew… Continue Reading

Bobby Sharma of Bluestone Equity Partners Invests in Theater

Bobby Sharma of Bluestone Equity Partners has a reason to watch the 2024 Tony Awards. Sharma, founder and managing partner of the firm, is now an investor in entertainment agency RWS Global. The company specializes in live entertainment, including Broadway productions of The Lion King, Chicago, and Life of Pi. As the Broadway award show… Continue Reading