Top 10 IRA Mistakes To Avoid

Top 10 IRA Mistakes to Avoid

  1. Taking the wrong RMD amount.
  2. Taking distributions too early.
  3. Failure to properly identify designated beneficiaries.
  4. Not knowing the special rules for spousal IRA beneficiaries.
  5. IRA beneficiaries fail to take advantage of a stretch option.
  6. Taking RMDs after the deadline.
  7. Not knowing the non-spousal rules for IRA beneficiaries.
  8. Disclaiming errors.
  9. Rollover errors.
  10. Assuming a will takes care of everything.

 

Did you make an IRA mistake or are you positioned to potentially make a mistake with your IRA?  Some mistakes come with hefty penalties, while others may not be corrected.  Talk to your retirement distribution expert for assistance today!