I’m liking this new legislation on RMD for IRAs

[Beancounter]

https://www.kiplinger.com/article/retirement/T032-C000-S002-new-law-could-change-rules-for-ira-withdrawals.html

 

It appears new legislation will be passed regarding IRAs and when required minimum distributions have to be taken. I realize everyone’s situation is different but I view these changes as positive. Of course, those that might inherit anything left of my IRA might not like the changes.....screw ‘em! I’ll be dead.

[KeepItReal]

https://www.kiplinger.com/article/retirement/T032-C000-S002-new-law-could-change-rules-for-ira-withdrawals.html

 

It appears new legislation will be passed regarding IRAs and when required minimum distributions have to be taken. I realize everyone’s situation is different but I view these changes as positive. Of course, those that might inherit anything left of my IRA might not like the changes.....screw ‘em! I’ll be dead.

Sorry to disagree, I am not a fan of the changes. Doing my best to shelter my savings from Uncle Sam's grubby hands, but this change will force earlier RMDs for those that inherit an IRA. Spent a lot of time with my nephews and nieces, teaching them the principles of compounding interest and the value of money specifically so that when they inherit they will be forearmed. This change will be to their detriment.

[instudiocity]

My goal in retirement will be to convert my tax sheltered investments into Roth accounts. Fuck the giv’mint! I’ll pay tax on my conversion, then my heirs will have tax-free investments with NO RMD.

 

I’m just waiting to be in a lower tax bracket.

 

I’m also making after tax contributions to Traditional IRA and converting to Roth immediately to make up for my limited 401(k) contributions because I’m ‘highly-compensated’ restricted in my company.

Edited June 9, 2019 by instudiocity

[+ bigjoey]

Do not forget that if you are making charitable donations in your estate, the IRA’s are a great place from which to make those gifts and give personal gifts from other assets (especially appreciated assets where the person getting the bequest gets a stepped up basis).

[KeepItReal]

My goal in retirement will be to convert my tax sheltered investments into Roth accounts. Fuck the giv’mint! I’ll pay tax on my conversion, then my heirs will have tax-free investments with NO RMD.

 

I’m just waiting to be in a lower tax bracket.

 

I’m also making after tax contributions to Traditional IRA and converting to Roth immediately to make up for my limited 401(k) contributions because I’m ‘highly-compensated’ restricted in my company.

Do check with your investment adviser or tax guy - your heirs will likely have required minimum distributions. And the new legislation will accelerate those RMDs. Hence, I am not a fan.

[instudiocity]

I’m not worried, yet...

http://www.investorguide.com/article/11816/understanding-the-tax-ramifications-of-an-inherited-roth-ira-igu/