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🔑 Inherited IRA Rules: What You Need to Know in 2024

Inherited IRA rules are changing constantly...literally! The IRA (and most employer plan types, like 401k) were created in the 70s and now hold massive sums of money in them due to their demographic, the baby boomers, contributing into these over their lifetimes.

I expect inherited IRA conversations to start becoming even more prevalent in the near future, but I am already having conversations with clients on their options with inherited pretax assets....it's looking more and more like we all might need to have these established for the massive estate and generational wealth transfer thats occurring.

As a seasoned financial expert, I'll guide you through:
The conversion-ability of an inherited IRA plus the basic distribution rules and some minor tax strategy to stagger with. As well as,

New inheritance regulations for IRAs and 401(k)s
Smart distribution strategies to minimize taxes
The power of Roth conversions for inherited accounts
Tips for navigating the upcoming generational wealth transfer

#InheritedIRA #RetirementPlanning #TaxStrategy #WealthTransfer #FinancialAdvice #RothConversion #EstatePlanning #personalfinance101

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Justin Hodges
Financial Planner, Founder of The WealthTenders, TaxTenders, Millennial Properties.

***DISCLAIMER - All content is not to be received as financial advice and each individual should consult with their dedicated financial planner, tax preparer, estate attorney, etc. before making any financial decisions. This Channel is meant for educational material only and is unaffiliated with any other mentioned entities therein.