Educational Moment: Advantages of Inheriting an IRA

Ronnie goes in depth on the advantages a spouse has with an inherited IRA and how they can avoid RMDs....(read more)

LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA

An Individual retirement account, commonly known as an IRA, can be an excellent source of retirement income. However, inheriting an IRA can also provide significant advantages for the beneficiaries. Inheriting an IRA can offer a financial boost to the beneficiaries and provide them with various tax advantages. One of the most significant advantages of inheriting an IRA is its potential for continued tax-deferred growth. The beneficiary can continue to grow their inheritance for years to come, without having to pay taxes on any investment gains until withdrawals are made. Additionally, inheriting an IRA allows the beneficiary to withdraw the inherited funds over their lifetime, which is a significant benefit. Another benefit of inheriting an IRA is that it can provide financial security to the beneficiary. The inherited IRA can be used to pay off debts or cover emergency expenses, which can be a significant relief for individuals who may be struggling financially. The inheritor can also use the funds to supplement their retirement savings, providing them with the peace of mind that they will be financially secure in their retirement years. Inheriting an IRA can also offer tax advantages to the beneficiary. The tax code provides various options for beneficiaries regarding IRA distributions. The beneficiary can choose to receive the funds as a lump-sum payment, which is subject to income taxes. Alternatively, they can take advantage of the "stretch IRA" rules, which permits them to withdraw a portion of the money each year over their lifetime. This option allows the beneficiary to minimize taxes and maximize the growth of the account. Finally, inheriting an IRA can also provide estate planning benefits. If the inheritor designates a new beneficiary for the inherited IRA, they can continue to take advantage of the tax-deferred growth of the account. The new beneficiary can also choose to receive the funds over their lifetime, providing them with the same financial security and tax advantages discussed earlier. In conclusion, inheriting an IRA can provide numerous advantages for the beneficiary. The continued tax-deferred growth of the account, its potential to provide financial security, and its estate planning benefits make it an excellent opportunity for anyone. It is critical to work with an experienced financial advisor to determine the best strategy for managing an inherited IRA and to take advantage of all the opportunities it provides. https://inflationprotection.org/educational-moment-advantages-of-inheriting-an-ira/?feed_id=81663&_unique_id=6420cfafe34d4 #Inflation #Retirement #GoldIRA #Wealth #Investing #FinancialStrategiesGroup #Flint #FlintFinancialPlanner #FSGFinancialTV #inheritedira #Northville #NorthvilleFinancialPlanner #Okemos #OkemosFinancialPlanner #requiredminimumdistribution #RMD #SpouseandinheritedIRA #wealthmanagement #YourTrustedAdvisors #InheritedIRA #FinancialStrategiesGroup #Flint #FlintFinancialPlanner #FSGFinancialTV #inheritedira #Northville #NorthvilleFinancialPlanner #Okemos #OkemosFinancialPlanner #requiredminimumdistribution #RMD #SpouseandinheritedIRA #wealthmanagement #YourTrustedAdvisors

"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

Search This Blog