Defined contribution retirement plans like IRAs are tax-efficient due to the deduction for contributions. They are also tax-efficient due to their tax-free growth. They are not so tax-efficient during retirement years due to taxable required minimum distributions (RMDs). They are also not so hot when you die due to the income tax on the proceeds. (Although an IRA can pass income tax free to heirs using the "stretch" option, it is then fully taxable to the heirs as they make their RMDs.)
IRA Rescue provides you with a platform to discuss other planning opportunities with what is likely to be a very impressed client. In this episode you have secured $1.5 million in additional net worth and certainly you have some ideas on how that could be best utilized.
In this video blog, I interview Insmark senior advisor Don Prehn to address repositioning an IRA for greater economic leverage.
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Steve Savant is the host of the daily producer show, Let’s Get Down to Business,Thought Leaders sponsored by Creative One. Steve is the #1 online author and videographer of insurance content. Steve has been cited on FOX, CBS, NBC, ABC. During his 30-year career in the financial services industr... More