Retirement

Pass It On – HumbleDollar

Here’s what you need to know about your IRA. Mistakes can be costly

Let your beneficiaries stretch. If your heirs inherit a taxable IRA, they’ll want to let it grow tax-deferred for as long as possible. If they cash out the account entirely within a few years of your death, they could generate a lot of taxable income and bump themselves into a higher tax bracket.

Source: Pass It On – HumbleDollar

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