Stretch IRA's

 

In a recent series of posts about Inherited IRA's, I wrote about various planning options that one might have when an IRA is passed on to you as the beneficiary.   If you missed the series, or would like to refresh your memory, feel free to check out part one, two and three

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Should You Pay Off Your Mortgage or Invest?

Owning a home outright is a dream that many Americans share. Having a mortgage can be a huge burden, and paying it off may be the first item on your financial to-do list. But competing with the desire to own your home free and clear is your need to invest for retirement, your child's college education, or some other goal. Putting extra cash toward one of these goals may mean sacrificing another. So how do you choose?

Evaluating the opportunity cost

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Planned Charitable Giving

Planned Charitable Giving

Standard donations or "checkbook giving" to charities or favorite causes are often tax deductible, but planned charitable giving allows you the opportunity to maximize the personal, financial and tax benefits of your gifts.  

Once you know what charity or cause you want to contribute to, you may also want to consider:

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Inherited IRA Planning Decisions Part Three

This is the third and concluding post about some options you might have if you inherit an IRA or benefit from an employee sponsored benefit plan.

If you're a non-spouse beneficiary of an IRA or benefit from an employee sponsored benefit plan, you unfortunately generally have far fewer options.

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Inherited IRA Planning Decisions Part Two

Recently I posted about some options you might have if you inherit an IRA or benefit from an employee sponsored benefit plan.  As promised, here are a few additional options for you to consider.

If the IRA owner or plan participant died before he or she began taking required minimum distributions, you can generally elect to distribute the entire interest in the IRA or plan within five years of the owner's or participant's death. (In this case, you don't have to begin taking distributions the year after death.)

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