Dear Garden State Trust: I’ve heard of something called a “charitable IRA rollover.” What is that? —Generous But Prudent Dear Generous: Those who are older than 70½ are permitted to arrange for a tax-free transfer of up to $100,000 per year from their IRA to the charity of their choice. This is the technique you…
Month: November 2018
Sudden Wealth
Lotteries have grown in popularity in recent years, as jackpots have grown in size. In October, the multistate Mega Millions jackpot grew to more than $1.5 billion if taken as annuity payments, and the largest jackpot on record won with a single ticket. Lotteries are seen by some as the shortcut to financial security, even…