Downs Law Firm, P.C.
Navigating the often complex world of inherited individual retirement accounts (IRAs) can be daunting, especially in the wake of losing a loved one.
Knowing when to retire and when to begin claiming benefits comes down to understanding yourself — and your finances.
If you’ve had an IRA and a 401(k) for many years, you may occasionally ask yourself some questions: ‘Am I contributing enough?’ ‘Am I still funding these accounts with the right mix of investments for my goals and risk tolerance?
So, you inherited a retirement account. Before you make any decisions on when and how to access the money, it’s worth familiarizing yourself with the rules that apply to different beneficiaries.
Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.
Losing a job is almost always traumatic. In your 50s, job loss can be devastating — and devastatingly common.
One wrong decision can lead to expensive consequences, and good luck trying to persuade the IRS to give you a do-over.
There have been several law changes that affect IRAs passed since December 2019.
The number of baby boomers entering retirement is expected to grow for several years, while the number of college-bound high-school grads is projected to decline.
The Secure Act will force faster withdrawals from Inherited IRA Accounts.
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