You can add a period certain, installment refund, or cash refund beneficiary payment to an IRA immediate annuity. But there may be limits to the length of the beneficiary payment period time you can select so it doesn't exceed the number of years remaining in your RMD divisor. I'll explai...
calculations. It’s possible to satisfy the total requirement from one account, though. You can add up the different amounts and withdraw the total from one IRA. There’s no need to take a separate RMD for each account. And, of course, you won’t include your Roth IRAs in your RMD ...
but you are unlimited in your number of IRA-to-Roth rollover contribution conversions. For this reason, you may benefit from taking your various 2020 distributions you thought were going to be your 2020 RMD and contributing them to your Roth IRA as a conversion instead. ...
When you roll your 403(b), 401(k), or other tax-deferred retirement account into a Roth IRA, you’ll have to pay income taxes on the amount you roll over that year. This can result in a huge upfront expense if you have a lot of money saved in your 403(b) already, but many p...
Now I need help figuring out if I should roll something into a Roth IRA each year to reduce the future hit of required minimum distributions on the IRA. I’m 62, so 10 years to go before RMD. Any articles out there that would be helpful? Thanks Chris Mamula says: September 8, ...
If you have taken more than one distribution in the past 60 days, those additional distributions could be put into a Roth IRA, using a strategy called an indirect Roth conversion. Although you won’t avoid the tax on those distributions, you’ll have the benefit of letting th...
Failure to take RMDs, or to withdraw the full amount of the RMD, results in a hefty 50 percent excise tax on the amount not distributed. Leave your tax-free accounts, such as your Roth IRA, for last, Adams said. Because these accounts are funded with after-tax dollars, the ...
Here's a comment from a reader named Joseph on myRoth IRA conversionpost. My income is $250K, which is middle class at best in Northern CA. I have an IRA worth $20 million from 30 years of saving and sound investing. Proposed IRA legislation would trigger 50% RMD for IRAs over $10...
Selling shares in a crash vs. sitting tight and living off your multi-year cash cushion could easily be the difference between your money lasting through your lifetime and it coming up short. (Note: this is different from doing a SEPP or Roth conversion just because you want to get those...
(k) that you haven’t rolled over into an IRA, you can use this account to split out your taxable IRA money from the non-taxable IRA money. Then you could do a tax-free conversion of the non-taxed IRA money into a Roth IRA if you wished, for example, as long as you fit ...