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Retirement Planning

Required Beginning Date (RBD)

An important aspect of Individual Retirement Accounts (IRAs) is the Required Minimum Distribution (RMD). This refers to the deadline for IRA owners to withdraw a certain amount of funds from their account. The first RMD must be taken by April 1 of the year after the IRA owner reaches 70½ years of age. This rule ensures that individuals do not delay taking distributions from their retirement account indefinitely.

Simplified Employee Pension Plan (SEP)

Welcome to our lesson on Simplified Employee Pension (SEP) plans. These retirement plans are specifically designed for small business owners and self-employed individuals. T...

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Employer Matching Program

One common type of employer matching program is known as "50% of the first 6%." This means that for every dollar an employee contributes to their 401(k) plan, the employer w...

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Money Purchase Plan Definition

A money purchase pension plan, also known as a defined contribution plan, requires employers to contribute a fixed percentage of eligible employees' salaries to individual a...

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Investment Portfolio Definition

A key concept in finance is the investment portfolio, which refers to a collection of assets owned by an individual or institution. These assets can include real estate and ...

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