Ask Terry Questions Mandatory IRA Withdrawals

Mandatory IRA Withdrawals

By Terry Savage on March 24, 2015 | Financial Planning / Retirement

What can a person invest in when having to take mandatory withdrawals from an IRA, especially if they don’t need the money right away? Can it be invested in another tax deferred product?

Terry Says:  Not unless you have “earned income” — that is, not income from pensions, interest, or withdrawals.  If you do have earned income you can put it in a Roth IRA if you qualify based on income level.  Or just save and invest it.  It’s a nice club to join:  having more income than you need to spend!

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