I Have Inherited an IRA—Now What? 5 Steps to Avoid Costly Mistakes (Ep. 52)
Inheriting an IRA can feel like stepping into a financial minefield — but with the right guidance, you can avoid costly mistakes and make the most of your legacy.
How do you know which rules apply? What if you miss a critical tax deadline? What should you do first?
In this episode, I break down the five essential steps every woman should take after inheriting an IRA. I explain how the Secure Act changed the rules, when required distributions apply, and how to think about taxes and investment strategy.
Topics covered:
- How to determine if you’re a spousal or non-spousal beneficiary
- The importance of knowing your IRA type: Traditional vs. Roth
- Required distributions and understanding the fine print of the 10-year rule
- Tailoring investment strategies to your individual needs post-inheritance
- Tips for tax-efficient distribution strategies, including qualified charitable distributions
- And more!
Resources:
- Get Your FREE Simply Retirement Roadmap
- #50 – Women Will Soon Control the Financial Landscape – But Is the Financial Services Industry Ready?
- #6 – Why the Right Questions Can Save Your Retirement
- #3 – Preparing for Retirement: Seven Essential Strategies for Successful Investing in Retirement
- 2025 Tax and Retirement Planning Guide – Important Numbers
- Download your free checklist to make confident decisions with an inherited IRA
Connect with Eric Blake:
- www.TheSimplyRetirementPodcast.com
- Join the Simply Retirement Newsletter
- Ask a Question or Suggest a Topic for the Podcast
- Blake Wealth Management
- YouTube
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