RMD or 10 Year Rule on Inheriting an Inherited IRA?

The SECURE Act allows those who inherited IRAs prior to 2020 to continue using the stretch IRA option, those who inherit an inherited IRA must use the 10-year rule. Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at LINKS: Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results....(read more)

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When inheriting an IRA, it is important to understand the 10-year rule and Required Minimum Distribution (RMD). The 10-year rule states that the beneficiary of an inherited IRA must withdraw the entire balance of the account within 10 years of the original owner's death. The beneficiary is not required to take an annual distribution, but the entire balance must be distributed before the 10-year period ends. The RMD is the amount that must be withdrawn from the inherited IRA each year. The RMD is calculated based on the beneficiary's age, the account balance, and the IRS life expectancy tables. The RMD must be withdrawn each year, and if not taken, the IRS may impose a 50% penalty on the amount not withdrawn. It is important to note that the 10-year rule and RMD apply to inherited IRAs only. Traditional IRAs and Roth IRAs held by the original owner are subject to different rules. For example, the original owner of a traditional IRA must begin taking RMDs by April 1st of the year following the year in which they turn 70 1/2. Roth IRAs do not require RMDs at any point. Inheriting an IRA can be a complicated process, and it is important to understand the 10-year rule and RMDs. It is also important to consult a financial advisor or tax professional to ensure that you are taking the correct steps to comply with the rules. https://inflationprotection.org/rmd-or-10-year-rule-on-inheriting-an-inherited-ira/?feed_id=70057&_unique_id=63e95ca6c0cab #Inflation #Retirement #GoldIRA #Wealth #Investing #10yearrule #estateplanning #financial #inheritedira #inheritediradistributionoptions #inheritedirarmd #korhorn #stretchira #stretchira10yearrule #wisemoneyshow #InheritedIRA #10yearrule #estateplanning #financial #inheritedira #inheritediradistributionoptions #inheritedirarmd #korhorn #stretchira #stretchira10yearrule #wisemoneyshow

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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