Did You Miss This?: How to Take Distributions From an Inherited IRA, Find Out What’s New in The Medicare and You 2025 Handbook, Use This ‘Super’ 529 Strategy to Jumpstart College Savings

Plus, who are the worst tippers? Created for {EMAIL} | [Web Version]( October 4, 2024 FOLLOW US:  [LinkedIn]( [Facebook]( [Instagram]( [A Step Ahead]( [SIGN UP](format=multipart) ⋅ [WEBSITE]( [] INTRODUCTION [] [Stepping Into Tipping]( Tipping is a part of American culture that puzzles many outsiders and is growing unpopular with ordinary Americans for a number of reasons. Most people expect to leave a tip at sit-down restaurants or when you take a cab or car service — the proliferation of tips cups and pre-entered tip screens is getting people’s nerves and turning some against tipping altogether. Kiplinger personal finance writer Erin Bendig gives a comprehensive look at [who customers tip, how much and who are the worst tippers](. I want to learn about you and when you began collecting Social Security benefits. Please cast your vote below and read next Friday’s edition of A Step Ahead to find out how much ASA readers tip when the occasion arises. Don’t forget to scroll down to see the results of last week’s poll. Till then, enjoy catching up on some of Kiplinger’s most popular articles this weekend. - Donna LeValley, personal finance writer [] How do you tip at a sit-down restaurant? [Vote]( [I always tip at least 20%, and more if the service is great.]( [Vote]( [I tip the same amount regardless of the quality of service.]( [Vote]( [If service is poor, I still tip, but less than 18%.]( [Vote]( [I do not tip at sit-down restaurants. It's not my responsibility to pay a server's wage.]( [7 Mistakes People Make When Choosing a Financial Advisor]( Consulting a financial advisor is a great first step to helping make sure you're on track to meet your retirement goals. But with thousands of advisors in the US, it can seem daunting to choose one. Avoiding these 7 mistakes people make when hiring an advisor could help you potentially save years of stress. [Learn more]( ADVERTISEMENT [] 529 EDUCATION PLANS [] [Use this Super 529 Strategy to Jumpstart College Savings]( (Getty Images) [Use this ‘Super’ 529 Strategy to Jumpstart College Savings]( The utility of 529 plans is unique. Funds can be used to pay tuition, pay down student loans and fund IRAs. They are also a great estate planning tool for grandparents with the liquidity to “superfund” the account. This super funding strategy allows the 529 funds to compound faster and reduces your taxable estate — a true win-win situation. Keep reading to learn about the rules that govern the superfunding a 529 account to get a tax break and build an education nest egg. [Supersize Your 529 Plan]( [] DISTRIBUTIONS FROM INHERITED IRAs [] [Prepare to Start Taking Money Out of Your Inherited IRA]( (Getty Images) [Prepare to Start Taking Money Out of Your Inherited IRA]( A reprieve for adult children and other non-spouse beneficiaries of inherited IRAs will end in 2025. Before the rules change in 2020, beneficiaries of inherited traditional IRAs have always had to pay taxes on withdrawals but had more flexibility regarding the timing of distributions. The new rules are going into effect next year and the penalty for missing a required distribution is steep. Kiplinger senior editor Sandy Block carefully explains the new distribution rules for inherited IRA beneficiaries. [New RMD Rules]( [Do you Need Help Balancing Your Retirement Goals?]( Spending your hard earned retirement money can be complicated—and it's important to make the right decisions that will help your savings last. Vanguard Personal Advisor is built to provide you an ongoing collaboration with our professional advisors — so you can retire with the support you need. [LEARN MORE]( Paid non-client promotion ADVERTISEMENT [] MEDICARE 2025 [] [What's New In the Medicare and You Handbook]( (Getty Images) [What's New In the ‘Medicare and You’ Handbook]( Medicare Open Enrollment starts in about four weeks and the new “Medicare and You” has been released. Currently, the digital and audio formats are available and printed copies are being mailed to Medicare beneficiaries and should arrive by the end of September. Read on to find out what’s new in Medicare this upcoming year and download your own copy. [What's New in 2025]( [Get Your Personalized Financial Plan Here]( No matter your level of experience, our team of advisors will give you personalized advice to help you invest confidently. Schedule your complimentary financial planning session today with J.P. Morgan Personal Advisors. [READ MORE]( INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE Kiplinger may receive compensation from JPMC ADVERTISEMENT [] OTHER KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [How Retirement Plans Are Divided in Divorce]( Here's what you need to know about QDROs (qualified domestic relations orders), which determine how assets in a soon-to-be ex-spouse's retirement plans or pension will be distributed. [Do You Know How Much You've Saved in Your 401(k)?]( And are you sure you're enrolled in one? A surprising number of workers don't know where they stand with their company's retirement plan. [When Is the Next Jobs Report?]( The next report is due out soon and signs of softness in the labor market should be supportive of rate cuts. [From building wealth for a secure retirement or investing wisely in any market to money-saving tax planning and much more — Sign up to explore more free e-newsletters here.]( [] Did you file for your Social Security benefits early at your full retirement age and do you have any regrets? I filed or will file early and before my FRA. 26.66% I waited or will wait until my FRA to collect benefits. 28.28% I filed or plan to file after my FRA to collect increased benefits. 39.47% I wish I had collected benefits at a different age. 5.59% ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Kiplinger is a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. 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