Essential Retirement Planning Tips for 2026
TL;DR Summary
A retiree who mistakenly paid taxes on a small 401(k) distribution and later deposited it into a traditional IRA cannot convert it to a Roth IRA without paying taxes again, but can withdraw the excess contribution and earnings before the tax deadline to avoid penalties. The article emphasizes the importance of consulting a tax professional and setting up financial guardrails as one approaches retirement.
- Liz Weston: Nearing retirement? Time to set up some guardrails to protect yourself and your money OregonLive.com
- 3 Retirement Savings Mistakes Every 50-Something Needs to Avoid in 2026 The Motley Fool
- Changes coming to your retirement accounts, could add thousands in savings kare11.com
- 7 Retirement Planning Trends in 2025: What They Mean for Your Wealth in 2026 Kiplinger
- 3 changes may impact retirement in 2026: What to know The Hill
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