I’m agreeing with arctic pineapple about deferring withdrawals from the inherited IRA until after you’ve retired and your earned income is lower.
Check the annuities and see if there is an annual “free partial withdrawal” of something like 10% of prior anniversary account value. If so, you could consider moving money annually out of the annuity into another inherited IRA at a low cost brokerage firm through a trustee to trustee transfer. You could then make withdrawals from the annuity when the term period is over, and clear out both the annuity and the brokerage inherited IRA before the end of 10 years.
Check the annuities and see if there is an annual “free partial withdrawal” of something like 10% of prior anniversary account value. If so, you could consider moving money annually out of the annuity into another inherited IRA at a low cost brokerage firm through a trustee to trustee transfer. You could then make withdrawals from the annuity when the term period is over, and clear out both the annuity and the brokerage inherited IRA before the end of 10 years.
Statistics: Posted by Stinky — Tue Oct 08, 2024 10:15 pm — Replies 2 — Views 303