Are Longevity Annuities in Your Future?

I’ve been pretty critical of many annuities in the past, but there is one out there that might be worth a serious look. It’s called a Qualified Longevity Annuity Contract (QLAC) — yes, that’s a mouthful. Recent technical changes to this annuity OK’d by the U.S. Treasury offer a partial solution to the not-outliving-your-money challenge. Unlike many other annuities, this one is fairly straightforward and easy to understand. It also has some tax advantages. In fact, in five years, says Stan Haithcock, aka …

Taxpayers and Retirees: Heed These Deadlines To Avoid Pitfalls

I’m betting that no one wants to pay more taxes than they must or be penalized for not following IRS rules. So as summer winds down, there are a few deadlines looming that taxpayers – and retirees in particular – will want to know about:  Sept. 30 – If you  inherited an IRA from someone who died last year and a charity was also listed as a beneficiary, this is the last day to redeem the interest that was specified for the charity. …