Investing
What if Retirement Plan Statements Stated the Facts?
The next time you open your 401(k) or IRA statement and see your current balance, it might be worth remembering it isn’t true. The balance,
September 21, 2016
The next time you open your 401(k) or IRA statement and see your current balance, it might be worth remembering it isn’t true. The balance,
Congratulations—you’ve built up a healthy retirement nest egg, maybe even a couple million bucks in a traditional IRA. Cue the applause! No worry about tax traps now! But as you reach retirement and start thinking about how to spend it (or pass it on), Uncle Sam is waiting with a few surprise moves that could mess with your plans. These are the tax traps.
You’ve just inherited an IRA from someone not your spouse… usually a parent. Guess what! Your rules are different.
