Timothy Sumer

The Stretch IRA permitted non-spouse beneficiaries to stretch their distributions of an inherited IRA over their lifetime. This strategy was outlawed as part of the Secure Act that took effect on January 1, 2020. Now, non-spouse beneficiaries must distribute the full value of an inherited IRA within 10 years. If the inherited IRA was funded with pre-tax dollars the ending of the Stretch IRA may create a huge tax bill for your beneficiaries. This change may make the government a significant beneficiary of your hard earned retirement savings. Please consult your tax or legal advisor for a complete understanding of how the ending of the Stretch IRA may impact your IRA accounts.... ( 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 The Stretch IRA, a popular tax planning strategy that allowed individuals to pass on tax-deferred retirement assets t...

What if you inherit an already inherited IRA during the 10-year rule? Does a new 10-year rule start or continue from when the initial beneficiary inherited the IRA? It is confusing, but this complex estate planning issue will start to become more common. Have a question you want to be answered on 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 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 ...

Nick Lowitt, Peak Pro Financial Vice President of Sales Development, breaks down a simple strategy to help non-spousal inherited IRA beneficiaries minimize taxes, supplement retirement income and build a tax-free legacy.... ( 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 Inheriting an individual retirement account (IRA) from a loved one can be both a financial blessing and a complex dilemma. While it offers an opportunity for wealth transfer, the rules regarding inherited IRAs can often be confusing and leave individuals in a quandary. However, recent changes have been made that aim to simplify the inherited IRA dilemma. Traditionally, when a non-spouse beneficiary inherited an IRA, they were required to take distributions from the account over their lifetime, also known as the "stretch IRA" strategy. This allowed beneficiaries to ex...

stretch IRA beneficiary rules, what are they.... ( 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 The Stretch IRA is a type of individual retirement account that allows account owners to pass on their savings to their beneficiaries beyond their own lifetime. The Stretch IRA is a popular estate planning tool that offers many tax benefits and can help ensure that heirs receive a steady stream of income for years to come. However, the rules surrounding Stretch IRA beneficiaries can be complicated and require careful planning to ensure that the account is handled properly. Here are some important things to keep in mind when naming Stretch IRA beneficiaries: 1. Eligibility for Stretch IRA Benefits To receive Stretch IRA benefits, a beneficiary must be named on the account. Generally, beneficiaries must be individuals, such as a spouse, children, ...

what is a stretch IRA and how does the inherited IRA work? Did you know a beneficiary IRA is the same as a multi generational IRA? Stretch IRAs and Stretch IRA rules.... ( 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 A stretch IRA is a tax-advantaged retirement savings account that allows an individual to pass on their assets to their beneficiaries. This form of IRA is designed to extend the life of a retirement account by allowing the beneficiaries to "stretch" the distributions over their lifetime, enabling tax-deferred growth for years to come. When it comes to managing a stretch IRA, it is crucial to seek advice from an advisor who understands the nuances of these accounts. There are a variety of advisors that can assist individuals with stretch IRA management. However, two critical types of advisors include financial advisor...

what is a stretch IRA and how does the inherited IRA work? Did you know a beneficiary IRA is the same as a multi generational IRA? Get answers about the stretch IRA rules.... ( 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 A Stretch IRA is a powerful and popular wealth management strategy allowing an individual to extend the tax-deferred growth of a traditional Individual retirement account (IRA) to future generations. This technique creates an inherited IRA that the beneficiaries can stretch out over a longer time horizon than the original owner. Unlike a traditional IRA, which requires account holders to withdraw their money by the age of 72, the Stretch IRA enables investors to leave most of their wealth untouched until their heirs inherit it. The primary benefit of a Stretch IRA is that assets can remain tax-deferred for many years, red...

the IRA owner? What is a stretch IRA? So what are the most important points to remember? Watch Szarka Financial’s Senior Financial Planner Alex Menassa, MT, CPA, JD discuss these issues News Anchor Roosevelt Leftwich. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker Dealer, member FINRA/SIPC. Advisory Services through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Cambridge and Szarka Financial are not affiliated. Fixed Insurance services offered through Szarka Financial.... ( 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 Inheriting an Individual retirement account (IRA) can be a significant financial gift, but it can also be overwhelming. Depending on your relationship to the original owner of the account, the rules and tax implications can differ. Here are...

IRA Beneficiary mistakes, part II. 866-589-9366 toll-free Making mistakes with your IRA can be costly. There are simple mistakes that can be avoided. As a member of Ed Slott's Master Elite IRA group I have extensive training on avoiding these mistakes. It is much more common that people realize. After spending just a few minutes with me people realize that there are potential issues they were *never* told about. Without the extensive training I have, I'd think the accounts were setup properly too.... ( 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 In Part 1 of our article about IRA beneficiary mistakes, we covered some common errors that individuals make when naming beneficiaries for their IRA accounts. In Part 2, we will continue with additional mistakes that can have serious consequences for you and your heirs. Mistake #4: Nam...

Ep. 80 of the Mullooly Asset Show, Tom talks about what a Stretch IRA is, and what to do if you're named as a beneficiary on a retirement account . Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments. Tom Mullooly is an investment industry veteran of over 30 years. Prior to launching the "Mullooly Asset Show," Tom (along with his sons) recorded close to 200 podcasts and nearly 200 videos, which can be found on the site The "Mullooly Asset Show" is a new chapter in furthering the education of investors young and old. We answer questions and cover topics that YOU bring up. Our topics and questions range from those brought up by clients to those sent in by our viewers. Get in touch with us here: Website: Facebook: www.facebook.com/MulloolyAsset Twitter: LinkedIn: Email: support@mullooly.net None of the content on our video...

Listing a trust as the beneficiary of your IRA is usually not a good idea. Learn more at For More Resources... Tax Planning: Personal Planning: Business Planning: ... ( 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 Individual Retirement Accounts (IRAs) have become a popular vehicle for retirement savings since their introduction in the United States in 1974. With the added benefits of tax-deferred growth and potential tax savings, a significant portion of an individual's retirement assets can be held in an IRA. However, there may be unforeseen consequences for heirs who inherit an IRA after the account holder passes away. This is where estate planning becomes crucial. One important aspect of estate planning is to designate beneficiaries to receive the assets from your IRA upon your death. This not only ensures that your wishes are follo...

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 l...

The rules of inherited IRAs are extremely difficult to understand due to the SECURE Act, yet they must be understood. Dean Barber and Bud Kasper review the inherited IRA rules and explain how the can affect different beneficiaries. Schedule a Meeting: Start Planning Here: More on this episode: Other Videos: 2022 Year-End Tax Planning: What Is Tax Diversification?: Podcasts: Ed Slott in Studio! - Creating a Tax-Free Retirement with Ed Slott - Articles: Yet Another Interest Rate Hike — What Does It Mean for You?: The Impact of Rising Interest Rates: RMD Penalty Waived for 2021 and 2022 Missed RMDs within 10-Year Rule: What Is a QCD?: How Much Do I Need to Retire?: The SECURE Act's 10-Year Rule: 10 Ways to Fight Inflation in Retirement: 6 Reasons Roth Conversions Could Work for You: Other Resources: Barber Financial Group Educational Series: The Guided Retirement Show: Disclosures and Introduction: 00:00 Bad Times for the Bond Aggregate: 01:16 Inher...

Securities offered through LPL Financial Member FINRA/SIPC "Stretch IRA" is a marketing term implying the ability of a beneficiary of a Decedent's IRA to withdraw the lest amount of money at the latest allowable time in order to maintain the inherited IRA assets for the longest time period possible. Beneficiary distribution options depend on a number of factors such as the type and age of the beneficiary, the relationship of the beneficiary to the decedent and the age of the decedent lat death may result in the inability to "stretch" a decedent's IRA. Illustration values will greatly depend on the assumptions used which may not be predictable such as future tax laws, IRS rules, inflation and constant rates of return. Costs including custodial fees may be incurred on a specified frequency while the account remains open.... ( read more ) LEARN MORE ABOUT: IRA Accounts TRANSFER IRA TO GOLD: Gold IRA Account TRANSFER IRA TO SILVER...

This video segment is the 2nd part of 'What Can Cause Your Trust to Fail' and focuses on estate planning options for retirement funds, including IRA's and the IRA Inheritance Trust (c) by John Goralka, J.D., LL.M. This is a communication for legal services from the Goralka Law Firm. Mr. Goralka is responsible for its contents.... ( 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 https://inflationprotection.org/ira-inheritance-trust-c-what-can-cause-your-trust-to-fail-part-2/?feed_id=49939&_unique_id=639acca3093e6 #Inflation #Retirement #GoldIRA #Wealth #Investing #estateplanning #IRAInheritanceTrust #JohnGoralka #retirementfunds #stretchira #Whatcancauseyourtrusttofail #InheritedIRA #estateplanning #IRAInheritanceTrust #JohnGoralka #retirementfunds #stretchira #Whatcancauseyourtrusttofail

what is a stretch IRA and how does the inherited IRA work? Did you know a beneficiary IRA is the same as a multi generational IRA? Stretch IRAs and Stretch IRA rules.... ( 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 https://inflationprotection.org/can-my-stretch-ira-beneficiaries-be-changed/?feed_id=49428&_unique_id=6398d153d8016 #Inflation #Retirement #GoldIRA #Wealth #Investing #beneficiaryira #generationalIRA #inheritiedIRA #multi #stretchira #stretchirarules #InheritedIRA #beneficiaryira #generationalIRA #inheritiedIRA #multi #stretchira #stretchirarules

what is a stretch IRA and how does the inherited IRA work? Did you know a beneficiary IRA is the same as a multi generational IRA? Get answers about the stretch IRA rules.... ( 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 https://inflationprotection.org/how-does-the-stretch-ira-work/?feed_id=48238&_unique_id=639431c56a246 #Inflation #Retirement #GoldIRA #Wealth #Investing #beneficiaryira #generationalIRA #inheritiedIRA #multi #stretchira #stretchirarules #InheritedIRA #beneficiaryira #generationalIRA #inheritiedIRA #multi #stretchira #stretchirarules

what is a stretch IRA and how does the inherited IRA work? Did you know a beneficiary IRA is the same as a multi generational IRA? Stretch IRAs and Stretch IRA rules.... ( 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 https://inflationprotection.org/benefits-for-listing-grandchildren-on-stretch-ira/?feed_id=45641&_unique_id=638a492d9d7b7 #Inflation #Retirement #GoldIRA #Wealth #Investing #beneficiaryira #generationalIRA #inheritiedIRA #multi #stretchira #stretchirarules #InheritedIRA #beneficiaryira #generationalIRA #inheritiedIRA #multi #stretchira #stretchirarules