Comments on: How to Select the Right Roth IRA Beneficiary http://wealthpilgrim.com/roth-ira-beneficiary/ WealthPilgrim.com -No Money Worries. No Matter What. Wed, 23 May 2012 02:40:46 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: David Haycock http://wealthpilgrim.com/roth-ira-beneficiary/#comment-12332 David Haycock Tue, 05 Jul 2011 14:06:25 +0000 http://wealthpilgrim.com/?p=14463#comment-12332 Thanks for the tip it was very useful. Thanks for the tip it was very useful.

]]> By: Belmont Thornton http://wealthpilgrim.com/roth-ira-beneficiary/#comment-5291 Belmont Thornton Sat, 05 Jun 2010 09:41:04 +0000 http://wealthpilgrim.com/?p=14463#comment-5291 Choosing your IRA is not a task of hurry. Thanks for the tip which would be useful to many people. An expert consultation is advised before you take any such steps. Choosing your IRA is not a task of hurry. Thanks for the tip which would be useful to many people. An expert consultation is advised before you take any such steps.

]]> By: Darren http://wealthpilgrim.com/roth-ira-beneficiary/#comment-5135 Darren Mon, 24 May 2010 19:42:56 +0000 http://wealthpilgrim.com/?p=14463#comment-5135 Thanks for the tip Neal. Isn't there also a provision to name your spouse as the beneficiary, have them roll it over to their own IRA, and then avoid RMDs during their life? Can't they then name their youngest beneficiary, and thus prolon withdrawals even more? Thanks for the tip Neal. Isn’t there also a provision to name your spouse as the beneficiary, have them roll it over to their own IRA, and then avoid RMDs during their life?

Can’t they then name their youngest beneficiary, and thus prolon withdrawals even more?

]]> By: JoeTaxpayer http://wealthpilgrim.com/roth-ira-beneficiary/#comment-4964 JoeTaxpayer Sat, 15 May 2010 13:15:17 +0000 http://wealthpilgrim.com/?p=14463#comment-4964 While a Roth has no RMD for the living, beneficiaries must take an RMD each year. A 10 year old's divisor is 72.8, or less than 1.4%. It would take 23 years to get to 50, a 2% withdrawal, so the account would still be growing nicely. Not till 25 more years (age 58) would it be over 4% and perhaps start to eat into the principal. If handled through a trust or a very responsible beneficiary, a $100K Roth can turn into all that kid needs to retire as an adult. While a Roth has no RMD for the living, beneficiaries must take an RMD each year.
A 10 year old’s divisor is 72.8, or less than 1.4%. It would take 23 years to get to 50, a 2% withdrawal, so the account would still be growing nicely. Not till 25 more years (age 58) would it be over 4% and perhaps start to eat into the principal.
If handled through a trust or a very responsible beneficiary, a $100K Roth can turn into all that kid needs to retire as an adult.

]]> By: Nunzio Bruno http://wealthpilgrim.com/roth-ira-beneficiary/#comment-4960 Nunzio Bruno Fri, 14 May 2010 21:43:43 +0000 http://wealthpilgrim.com/?p=14463#comment-4960 Great point! A lot of the DIY'ers out there don't give the beneficiary designation on something like a Roth the attention it deserves. They just get one because someone told them it's a good idea. Roth's can be great tools when thinking about an estate plan as well and spreading wealth between generations. Even if you aren't close to retirement yet, beneficiaries should be on everything, and something like a Roth absolutely warrants a convo. Nice post!! Great point! A lot of the DIY’ers out there don’t give the beneficiary designation on something like a Roth the attention it deserves. They just get one because someone told them it’s a good idea. Roth’s can be great tools when thinking about an estate plan as well and spreading wealth between generations. Even if you aren’t close to retirement yet, beneficiaries should be on everything, and something like a Roth absolutely warrants a convo. Nice post!!

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