Your Money, Your Wealth How to Maximize Your Inheritance: IRA Options and RMDs - 435
A little ditty about Jack and Diane, who will eventually inherit about $4.5M from Diane’s parents. How do they manage the required minimum distributions? Which of three options should Matt take with his inherited IRA? Making the most of your inheritance today on YMYW 435. Plus, Clay wants to know if it’s a good idea to take money off the table and rebalance to safer or more aggressive investments, depending on your risk tolerance? Can Elizabeth offset pre-tax IRA losses with the gains from the sale of rental real estate? Is it true that you can make one time contributions from your IRA to your HSA that is, your health savings account? And finally, can Cory gift stock to his daughters and avoid paying the kiddie tax as a way to pay for college? And can Rich supercharge a 529 college savings plan with himself as beneficiary?
Timestamps:
- 00:58 - How Do We Manage RMDs on a Pending Inheritance? (Jack & Diane)
- 11:31 - Which of 3 Options Should I Take With This Inherited IRA? (Matt, San Diego)
- 18:57 - Should I Take Money Off the Table and Rebalance to Safety? (Clay, Westerville (Columbus), OH)
- 23:50 - Can I Offset Pre-Tax IRA Losses With Gains from the Sale of Rental Real Estate? (Elizabeth, Lake Forest)
- 26:43 - Is It True We Can Make One Time Contributions From IRA to HSA? (Scott, NC)
- 32:06 - How to Pay for College: Gifting Stock and Avoiding the Kiddie Tax? (Cory, Bethesda, MD)
- 36:16 - Should I Supercharge a 529 Plan With Myself as Beneficiary? (Rich, NY)
- 41:17 - The Derails
Access this week's free financial resources in the podcast show notes at https://bit.ly/ymyw-435
- Estate Planning Organizer
- Emotional Investing - YMYW TV
- Emotionless Investing Guide
- Episode Transcript
- Ask Joe & Big Al On Air