In the realm of financial planning, there are numerous rules and guidelines which must be followed in order to stay clear of significant problems. Many times, once an error has been committed it can either not be unwound or it takes significant time and cost to rectify. One specific area where this holds especially true is regarding retirement accounts. The rules that govern the use and administration of 401(k) plans, IRA, Roth IRA and other qualified retirement accounts are numerous and can be daunting. If you are not aware of how these various rules and guidelines work, you can conceivably cost yourself some of the money you so carefully saved in these accounts over many years.
Read Full Article »
