IRA/RMD ROLLOVER
Qualified accounts are unique in that they are tax-favored retirement accounts. One of the benefits on having a qualified account, like a 401(k), TSP, or 403(b), is that they can be rolled over into a personal IRA, provided you are age 59½ and your plan permits such. Once under your control as your IRA, you have the ability to determine how you want that money invested and diversified, whether it be self-managed, or through an advisor. Like all qualified accounts, reaching 72 years of age, triggers Required Minimum Distributions (“RMDs”). It’s important to seek assistance from a qualified financial professional regarding any IRA rollers you are considering, as well as how to calculate and deal with the tax consequences of RMDs.
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*Not Legal, Tax, or Securities Investment Advice:
The material discussed on this web site is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice, nor does it represent any specific company or specific products. Duron Financial, LLC is not registered nor licensed as a Registered Investment Advisory Firm (RIA), Investment Advisor Representative (IAR), nor as a Registered Representative (RR) with any broker/dealer firm, and is therefore not registered with, or supervised by, the U.S. Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), or any state securities regulatory office. As such, Duron Financial, LLC does not provide investment advice, specifically: buying, selling, holding, risk analysis, or any other analysis of securities, nor the asset allocation of securities portfolios. For specific investment advice on your securities investment portfolio, please contact a licensed and registered investment professional in your state.
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