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.
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Syndicated financial columnist Steve Savant hosts the weekly video talk show for consumers entitled, Right on the Money and anchors the weekend news update On the Money News.
Steve is also the host of the daily producer show, Thought Leaders. Steve is of the top online author and videographer of... More