A sound retirement system is not comprised of just one investment. A solid retirement program must be diversified to address risk, income, taxes, inflation, healthcare expenses, and more.
Changes in laws can happen at any time and have a dramatic effect on retirement plans. These changes all point to a crucial component of retirement planning – your retirement system is not a once-and-done task.
There are specific rules that you need to follow depending on what IRA type you inherit and what type of beneficiary you are. Your distribution options will vary as well.
This week I’d like to highlight a few of the more common taxes that can sneak up on even the best retirement plan, and some strategies to potentially mitigate them.