Roth rescue
I am a 77 year old widow with $1.75 million in IRA and 401K’s. What can you tell me about Roth Rescue accounts and who can set them up. Currently I’m just taking the RMD’s but I’m worried about the 10 year rule if my 2 children inherit the bulk of my estate. To date I have taken the RMD without depleting principal. My grandchildren (5) are too young (ages 10 to 18) to receive any inheritence.
Terry Says
This is a BS marketing program designed to make commissions on investments after urging seniors to move into a Roth IRA –under the guise of “saving taxes”! Please avoid this.
You have enough in assets to deserve a fee-only FIDUCIARY advisor to help you evaluate your current situation, adjust your investments INSIDE your retirement plans, and then set up appropriate beneficiaries for your plan — as well as creating an estate plan that has trusts for your grandchildren. And you should be contributing to a 529 plan for each of the younger grandchildren!
That’s all stuff that a trusted advisor can do for you.
Please click on this link and watch the video, and let my friend Pam Krueger set you up with a couple of trusted advisors so you can start making some good decisions. I’m so glad you wrote to me before doing any of this!
