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How Reverse Rollovers Work

What is a reverse rollover, and why might you roll an IRA into a 401(k) or 403(b) account? The term refers to moving money in a way that’s different from what happens most frequently. At some point, people often move money out of their workplace retirement plans—and into an IRA that they control. There are pros and cons of doing that, and of course, you want to review your options carefully before making any moves. 🌞 Subscribe to this channel (it's free): But there may be good reasons for moving money in the opposite direction: From an IRA to your 401(k) or similar plan. When you do that, you can potentially eliminate pre-tax IRA balances, which could help you manage RMDs (by postponing them, at least) or do backdoor Roth conversions. Get free retirement planning resources: 🔑 9 Keys to retirement planning 🐢 6 Safest Investments There may be other reasons for reverse rollovers, as well. For instance, maybe you’re going to leave a job after age 55 but before a

Don't Miss Your RMD: Financial Tips for Year-End ⏱️

#shorts #retirement #financialfreedom One of my 10 Year End Financial Planning Tips. What to know about RMDs and retirement planning …. You need a game plan for required minimum distributions. If you are age 72 or older AND have IRA assets you must remove a set amount from your IRA every single year. I can’t tell you how many people forget… and if you do it is a 50% penalty on the amount you should have taken! Save and Share it with your parents, aunts, and uncles. You may just save them! And one more thing… ROTH IRAs don’t have them. Another reason why Roth accounts are so powerful. Save this and tag a business friend in the comments👇 P.S. Supercharge Your Financial Life with my free ebook, Accelerating your Path Toward Prosperity. ⬇️ DISCLAIMER : Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas. Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sel