Episode #103: Unasked Questions About The Stretch IRA

Apple PodcastsSpotifyAmazon MusicTuneIniHeartRadioPodbean

Today’s Smart Money Question:

Do you ever wonder what you might not even know to ask about? For instance, do you know what a stretch IRA is and how it works? Or how to designate beneficiaries and joint ownership over your accounts appropriately? Matt talks through the ins and outs of these things, answering your questions before you ask them.

Apple PodcastsSpotifyGoogle PodcastsStitcheriHeartRadioTuneInSubscribe via RSSShareLeave a ReviewDownloadListen in a New WindowSoundCloudSubscribe on AndroidPlayer Embed

(Click the featured times below to jump forward in the episode)

Here Are Just A Handful Of Things You’ll Learn:

When it comes to financial topics, there are a number of things that seldom get asked about. Whether it’s because it seems too confusing or if it’s something that is just completely off your radar, these questions go unasked all too often.

Three of these things we talk about in the latest episode of Smart Money Questions: stretch IRA, naming beneficiaries, and joint ownership rights. Currently, for non-spousal beneficiaries of a retirement account, they can take advantage of a stretch IRA. But what is a stretch IRA? And how does it benefit you? Is it something that Congress getting rid of?

Regardless of the asset, you’ll want to make sure you list your designated beneficiaries and contingent beneficiaries on all of your accounts and don’t assume that your will is going to cover it. Then make sure to communicate about your assets being passed down with your beneficiaries, especially in regards to the taxes that might come with it.

But what about joint ownership? What can be jointly owned and what still needs a beneficiary when it comes to your assets and accounts?

Listen to today’s podcast to hear Matt answer these unasked questions or click the timestamps below for a specific segment.

0:38 – Episode overview about making sure you do what you are supposed to with your retirement accounts.

3:39 – If you are still working after 70.5 and contributing to your company 401(k), do you have to take RMDs on it?

7:31 – The SECURE Act is looking to raise the RMD age.

8:01 – What is a stretch IRA?

11:40 – Current plans are to eliminate and condense the stretch IRA in Congress.

12:40 – The importance of designated beneficiaries on your account.

14:29 – Can you add your spouse to an IRA?

16:42 – Creating joint ownership on after-tax accounts like cars, real estate, and bank accounts.

 

Additional Podcast Episodes: 

Do You Have A Smart Money Question?

Ask Matt your smart money question. Click here.

More From Matt:

The host: Matt Hausman – Contact – Resources – Call: 610-719-3003

 

Subscribe To The “Smart Money Questions” Podcast:

Share This Post

More To Explore

Load More

GOT A SMART MONEY QUESTION?

Do you have a question that we haven’t covered yet? Just leave me a message and your question just might be on my next podcast!

Why Ask A Question?

Although everyone’s situation is different, your question might help hundreds of other people who are in the same boat. Don’t be afraid of the answers, be afraid of not asking the question!

What Do You Get?

The clearest answer I can give on how to address your retirement question and links to resources that may help you.

Don't Have A Microphone?

Just fill out the form below to ask your question!

SCHEDULE A TIME TO MEET

It’s fast and easy to make an appointment with Matt. You can start with a 30-minute conference call or meet in-person at the office in Malvern, PA.

Book Appointment

Contact

Privacy Policy

All written content on this site is for information purposes only. Opinions expressed herein are solely those of Smart Money Questions and our editorial staff. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. ©2018 All written content on this site is for information purposes only. Opinions expressed herein are solely those of Old Security Group and our editorial staff. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. Fee based financial planning and investment advisory services are offered by Old Security Group a Registered Investment Advisor in the State of Pennsylvania. Insurance products and services are offered through Old Security Trust Corp. Old Security Group and Old Security Trust Corp. are affiliated companies. The presence of this web site shall in no way be construed or interpreted as a solicitation to sell or offer to sell investment advisory services to any residents of any State other than the States of Pennsylvania, Delaware and Maryland or where otherwise legally permitted.