Charitable donations can aid in IRA distributions

Charitable donations can aid in IRA distributions

This is a column about individual retirement accounts, my dad and doing good.

For those of you with an individual retirement account who are over the age of 72, you know you are required to take an annual required minimum distribution, otherwise known as an RMD.

Since IRAs are funded with pre-tax dollars, the RMD rule ensures that people do not defer taxation in their lifetimes and leave untaxed income as an inheritance. The required minimum distribution from my parents’ IRAs was the subject of a running joke in my family.

The RMD deadline is Dec. 31 each year. Each fall as the leaves began to change, my father would begin his quest to determine his and my mother’s amount for that year.

One would think we were a family of CPAs or investment advisors, but we were not. My father was just an engineer who wanted

What happened to Silent Generation values?

What happened to Silent Generation values?

Recently I sent a survey to several Silent Generation seniors who are between the ages of 76 and 93. A great deal has been written about their beginnings as a cohort, but my goal was to understand their thoughts and feelings as they pertain to some of the more recent cultural changes in our society.

The Silent Generation is the demographic group after the Greatest Generation (1901 to 1927) and before the baby boomers (1946 to 1964). They were raised during a period of war and economic depression.

Many lost fathers or older siblings who were killed in World War II. Many of the men of the Silent Generation served in the Korean War.

While it’s impossible to say all individuals of a certain generation possess the same qualities,