Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: What You Can and Can’t Do With Inherited IRAs
Jul 28, 2024
Dive into the latest IRS rules on inherited IRAs and learn what beneficiaries can and can’t do with their funds. Discover how new regulations impact withdrawal timelines and tax obligations, essential knowledge for effective estate planning. Plus, be inspired by Celine Dion’s powerful performance at the 2024 Olympic Games, a reminder to pursue your dreams despite challenges. It’s a blend of practical financial guidance and motivational insights!
28:31
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Quick takeaways
- Beneficiaries of inherited IRAs now face a mandatory 10-year withdrawal period, significantly impacting their financial planning and tax obligations.
- Dollar cost averaging is emphasized as a vital investment strategy, enabling risk management while navigating market volatility through gradual investments.
Deep dives
The Importance of Dollar Cost Averaging
Dollar cost averaging is highlighted as a crucial investment strategy that allows investors to manage risk amidst market volatility. Instead of investing a lump sum at once, spreading investments over time helps mitigate losses during downturns, reinforcing the idea that investments should be made gradually based on market performance. For instance, if an investor has $12,000, they might choose to invest $1,000 each month rather than all at once, allowing flexibility in reacting to market changes. This strategy encourages patience and faith in one's investments, rather than succumbing to the fear and temptation to sell during market drops.
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