Retirement Plans and Other Tax-Advantaged Accounts

What this video covers

• How Traditional and Roth IRAs differ on contributions (pre-tax versus after-tax), qualified distribution taxation, and whether lifetime required minimum distributions (RMDs) apply
• The 2026 contribution limits for IRAs ($7,500 base, $8,600 with catch-up) and the earned-income rule that caps contributions at 100% of compensation
• Why Roth IRA contributions are always tax-free and penalty-free to withdraw at any age, while earnings face the 10% early-distribution penalty before age 59-1/2
• The narrow exceptions to the 10% early-withdrawal penalty, and why modifying a Substantially Equal Periodic Payment (SEPP) schedule triggers retroactive penalties plus interest
• How SEP IRAs are employer-only contributions, while SIMPLE IRAs require both employer and employee contributions with a 100-employee cap
• What KEO (HR-10) plans are, who qualifies (self-employed and unincorporated businesses), and why they have largely been replaced by SEP IRAs
• When RMDs must begin for Traditional IRAs (age 73, first distribution by April 1 of the following year) and why Roth IRAs have no lifetime RMDs for the owner