Maximize Your IRA Benefits With An Inherited IRA

By
Services for Real Estate Pros with Think Glink Media

Whenever people start to talk about IRAs and estate planning, you can almost see the numbness come over an audience. I can understand why confronting your own mortality comes well behind the name of the latest contestant to be kicked off Dancing with the Stars on the interest scale.

But one aspect of IRAs is genuinely exciting, because it permits you to take a humdrum, modest IRA and turn it into a huge windfall for your heirs. It’s very easy to achieve this goal. Just leave an IRA to a beneficiary of your choice.

This advice comes from Dan Solin, author of The Smartest Retirement Book You’ll Ever Read. He cites an example of a 45 year-old man who receives a $50,000 IRA from his mother. By following solid advice, the man was able to stretch those withdrawals into a staggering $303,113 over the course of 38.8 years. 

For more information on inherited withdrawals, including Dan Solin's advice on how to take full advantage of their benefits, check out his full blog at http://retirement.equifax.com/2010/12/maximize-your-ira-benefits-with.html.

 

 

 

Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investor

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Rainmaker
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Kathy Toth
Ann Arbor Market Center Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Experts - Kathy Toth Team

Thanks Ilyce, I just inherited an IRA and appreciate the benefits to me with required minimum distributions madated since the original person was over 70 and 1/2 years old.  Let's check in with each other in 10 years to see how it worked out - hahaha.

Dec 14, 2010 08:40 AM #1
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Marilyn Tolhuizen
McColly Real Estate - Crown Point, IN
Real Estate Specialist - 219-616-7069 - NW Indiana

This is an aspect of IRA that I hadn't thought of.  It comes at a particularly significant time. Thanks for the info. 

Dec 14, 2010 08:45 AM #2
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Rainmaker
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Ilyce Glink

Best-selling author, award-winning TV/radio host.
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