Comments on: Inherited IRAs – Please Avoid this Mistake

By: Evolution Of Wealth

Evolution Of Wealth — Mon, 29 Mar 2010 14:45:04 +0000

I think Evan brings up the best point. The goal for Z should be to get his daughter involved and learning now. The more he gets her involved in the discussion the more and quicker she can learn how to manage her own finances. An inherited IRA can be a big responsibility. PS- thank you for the mention. .-= Evolution Of Wealth´s last blog ..Mortgage Acceleration Experiment – Full Picture =-.

By: Evan

Evan — Sun, 28 Mar 2010 13:44:20 +0000

I think I would be worried about how involved Dad is in the inherited IRA. Jenny needs to be asking these questions, or she'll be just invading the corpus, paying her income tax and moving on before she is 33 Thanks for the link! .-= Evan´s last blog ..Explanation of Health Care Bill in Time Line Form =-.

By: Derek

Derek — Sun, 28 Mar 2010 05:36:45 +0000

Good advice, definitely keep it in the market if she is 29. She'll thank you in 30 years. I'd probably have more than 60% myself, but I guess some people need a little less risk and I can understand that. 60 is a good step from an annuity. .-= Derek´s last blog ..Weekend Link Love – March 27, 2010 =-.

By: Brad Chaffee

Brad Chaffee — Fri, 26 Mar 2010 23:38:44 +0000

Thanks for the link love!

I agree completely about Punch Debt in the Face. Hilarious and the pics alone are worth it.
.-= Brad Chaffee´s last blog ..Book Review & Giveaway: Give Me Get Me Buy Me =-.

By: JoeTaxpayer

JoeTaxpayer — Fri, 26 Mar 2010 17:50:56 +0000

In my brokerage accounts, I am allowed to reinvest dividends, getting fractional shares and no commission. At her age, with such a low RMD, I’d suggest an index ETF that’s easy to understand, the SPY (S&P 500) or even DVY (the higher dividend Dow stocks) for the bulk of the money. 60% will capture most of the gain at lower standard deviation, if that’s their comfort level.

I manage funds for an 80 yr old, still at 50/50. Enough cash to cover till the IRS says she’ll pass, and enough stock for growth for her daughters.