I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.
Agreed, I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has 5X in barely 4 years, summing up nearly $1m as of today.
I take guidance from an advisor Annette Marie Holt To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
thanks for putting this out, curiously inputted Annette on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise.
Ok, so does this apply to an inherited Roth, or is it still under the "the Roth must be emptied by the 10th year and we don't care when it is withdrawn" rule?
At whose age is the RMD computed for an inherited regular and Roth IRA? For example: Parent already is paying annual RMDs at their age (74) on their Regular IRA. Parent dies and two children inherit both the Regular and the Roth IRAs. One child is 40, the other child is 37. When the children split both IRAs, at whose age (original Parent, or, children's age) will the annual RMDs be computed for the next 10 years? Thanks
As far as I know, if original owner hasn't taken out their RMD during the year of death, then it's based on the owner's RMD that year. After that, the RMD is taken based on the oldest beneficiary's age. I read the publication a couple of years ago but should probably double check that.
To confirm, this final ruling only applies to inherited IRAs starting 2020 and later. If you inherited one in say 2015 from someone who had started the RMDs and you have continued them, there is NO 10-year rule to empty that IRA?
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.
consider financial advisory so you don’t keep switching it up... those sound like great picks anyways, not bad for $350k.
Agreed, I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has 5X in barely 4 years, summing up nearly $1m as of today.
this is huge! would you mind revealing info of your advisor here please? in dire need of portfolio rebalancing
I take guidance from an advisor Annette Marie Holt To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
thanks for putting this out, curiously inputted Annette on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise.
Ok, so does this apply to an inherited Roth, or is it still under the "the Roth must be emptied by the 10th year and we don't care when it is withdrawn" rule?
Roths don’t have RMDs, so no
At whose age is the RMD computed for an inherited regular and Roth IRA? For example: Parent already is paying annual RMDs at their age (74) on their Regular IRA. Parent dies and two children inherit both the Regular and the Roth IRAs. One child is 40, the other child is 37. When the children split both IRAs, at whose age (original Parent, or, children's age) will the annual RMDs be computed for the next 10 years? Thanks
I was going to ask the same question
It’s the account owner (parent), not the beneficiary.
As far as I know, if original owner hasn't taken out their RMD during the year of death, then it's based on the owner's RMD that year. After that, the RMD is taken based on the oldest beneficiary's age. I read the publication a couple of years ago but should probably double check that.
My understanding is the RMD is based on the beneficiaries age.
RMDs for both Roth and Traditional?
To confirm, this final ruling only applies to inherited IRAs starting 2020 and later. If you inherited one in say 2015 from someone who had started the RMDs and you have continued them, there is NO 10-year rule to empty that IRA?