Some IRA planning and investment strategies may appear easy to execute, but errors can lead to unexpected taxes or penalties, loss of the IRA’s tax-exempt status, and even disinherited beneficiaries. Where can things go wrong? Here are five common IRA misconceptions, as well as tips for making a more informed choice.
When you leave a job, you have several options for dealing with the funds in your 401(k) or other employer-sponsored retirement account. One option is an indirect rollover. With this method, you receive a distribution check from your employer and then have 60 days to deposit the funds into an IRA or your new employer’s plan.
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2279 Valleydale Road, Suite 210
Birmingham, AL 35244
Office: 205.970.9088
trent@grinkmeyerleonard.com
2279 Valleydale Road, Suite 210
Birmingham, AL 35244
Office 205.970.9088
trent@grinkmeyerleonard.com
Trent Grinkmeyer, Valerie Leonard, Jamie Kertis, and Caleb Bagwell are Registered Representatives and Investment Adviser Representatives with/and offer securities and advisory services through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through Grinkmeyer Leonard Financial or CES Insurance Agency. This communication is not intended to replace the advice of a qualified tax advisor or attorney. This communication is strictly intended for individuals residing in the following states: AL, CO, FL, GA, KY, LA, MA, MD, MS, OK, PA, SC, TN, TX. No offers may be made or accepted from any resident outside of these states due to various state regulations & registration requirements regarding investment products & services. Please review our terms of use here: http://www.commonwealth.com/termsofuse.html