At 70½, IRA owners must take Required Minimum Distributions, which are taxable. When the account passes to beneficiaries, they pay income tax on inherited funds. A stretch IRA keeps inherited assets tax-deferred longer, letting children and grandchildren benefit from continued growth.
Those of us with a tax-deferred retirement account, like an IRA, SEP, TSP, 401(k), or 403(b), who don't need the money are still required by the IRS to begin taking taxable distributions from our accounts by April 1st of the year after we reach age 70½. The IRS calls these withdrawals Required Minimum Distributions, or RMDs. However, taking only the RMDs will almost always leave money in our accounts when we pass on. So any money left in these accounts will be inherited by our designated beneficiaries, and those beneficiaries will then be required to pay income taxes on their share of the account value. So every dollar in your tax-deferred retirement account will eventually be taxed. But there is a way to minimize the taxation and allow our money to continue growing for our children and grandchildren. It's known as a stretch IRA because the IRS will allow
MONETARY DEVALUATION: PRECIOUS METALS - Insurance Lead Conversion Video | WebPrez
FIXED INDEX ANNUITY DECISION ASSURANCE - Insurance Lead Conversion Video | WebPrez
