Do you plan to inherit an IRA? If so, this is a must-watch video as the rules that mandate inherited IRAs have recently changed in 2022. You will not have mandated RMDs during the SECURE Act's 10-year window... You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to There have been a lot of rule changes in inherited IRA space over the last few years with the passing of the SECURE Act. As we sit here in 2022, the changes keep coming... We previously understood the SECURE Act's 10 year rule as having no required minimum distributions except for having to withdraw the full IRA balance by year 10. Now, however, with new IRS guidance in 2022, this 10 year rule changes drastically. You will now have ongoing, annual RMDs. Watch this video to learn more... #InheritedIRA #retirementplanning #estateplanning - - - - - - - - - - - - - - - - - - - - - - - Always remember, "You Don't Need More Money; You Need a Better Plan" 🍿 Subscribe to our channel: 🏆 Join our Weekly Email Series: 📈 Talk with us about your retirement plan here: 📚 The New 60/40: How the Next Generation of Retirees Can Achieve Radical Financial Freedom through Better Safe Investing - Safeguard Wealth Management is a Registered Investment Advisor in the State of WI. Safeguard Wealth Management is not an insurance provider. All content on Youtube is for informational purposes only and should not be taken as personal advice for your situation. You can read more disclosures at ...(read more)
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Inheriting an IRA in 2022 will be a complicated process, but one that could provide you with a substantial financial windfall. With the right planning, you can maximize the benefits of your inherited IRA and ensure that you are able to make the most of the tax advantages that come with it. Here are some things you need to know about inheriting an IRA in 2022. First, you should understand the rules for inherited IRAs. Generally, if you inherit an IRA from a spouse, you can treat it as your own and make contributions to it. However, if you inherit an IRA from another person, you must take distributions from the account according to the rules of the deceased's estate. Additionally, you cannot make any contributions to the account. Second, you should be aware of the tax implications of inheriting an IRA. Generally, inherited IRAs are subject to income tax. This means that you must pay taxes on any distributions you receive from the account. Additionally, you may be subject to estate taxes if the value of the account is above a certain threshold. Third, you should understand the different types of inherited IRAs. There are two main types of inherited IRAs: Traditional IRAs and Roth IRAs. Traditional IRAs are subject to income taxes on distributions, while Roth IRAs are not. Additionally, Roth IRAs have different rules for required minimum distributions than Traditional IRAs. Fourth, you should understand the rules for required minimum distributions. Generally, you must begin taking required minimum distributions from an inherited IRA by December 31 of the year after the year of death of the original account holder. The amount of the required minimum distribution depends on the age of the deceased and the value of the account. Finally, you should consider the potential benefits of an inherited IRA. Generally, an inherited IRA can provide you with a substantial financial windfall. Additionally, you may be able to take advantage of the tax advantages that come with an inherited IRA, such as avoiding early withdrawal penalties and taking advantage of tax-free growth. Inheriting an IRA in 2022 can be a complicated process, but with the right planning, you can maximize the benefits of your inherited IRA and ensure that you are able to make the most of the tax advantages that come with it. Understanding the rules for inherited IRAs, the tax implications, the different types of inherited IRAs, and the rules for required minimum distributions can help you make the most of your inherited IRA. Additionally, understanding the potential benefits of an inherited IRA can help you ensure that you are able to make the most of the financial windfall. https://inflationprotection.org/inherit-an-ira-you-need-to-know-this-in-2022/?feed_id=68636&_unique_id=63e2c2c8d6333 #Inflation #Retirement #GoldIRA #Wealth #Investing #2022inheritedirachanges #edslott #inheritedira #inheritedira10yearrule #inheritediradistributionoptions #InheritedIRAexplained #inheritedirarmd #inheritedirarmds #inheritedirarules #inheritedirasetup #inheritedirataxrules #InheritedIRAs #inheritedrmd #NewIRARules #requiredminimumdistributions #rmdrules #secureact #secureactinheritedirachanges #secureactrmd #secureactstretchira #stretchira #stretchirarules #thesecureact #InheritedIRA #2022inheritedirachanges #edslott #inheritedira #inheritedira10yearrule #inheritediradistributionoptions #InheritedIRAexplained #inheritedirarmd #inheritedirarmds #inheritedirarules #inheritedirasetup #inheritedirataxrules #InheritedIRAs #inheritedrmd #NewIRARules #requiredminimumdistributions #rmdrules #secureact #secureactinheritedirachanges #secureactrmd #secureactstretchira #stretchira #stretchirarules #thesecureact
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