Spouses that inherit a retirement account when they are under age 59.5 have choices. They can choose to assume the inherited account as their own or elect to establish a beneficiary IRA. Before making this decision, it's important to assess whether you'll need to withdraw funds before age 59.5 in order to avoid the 10% early withdrawal penalty. My professional focus is retirement planning for individuals over age 55. Please visit our website or reach out for a complimentary planning session. Ted Erhart, CFP® Financial Planner Anoka, Minnesota Disclaimer: Since we don’t know your specific situation, none of this information should be construed as tax, legal, financial, insurance, financial advice or other advice and may be outdated or inaccurate. It is your responsibility to verify all information yourself. This content is prepared for entertainment purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)