The Book “Top 10 IRA Mistakes” Chapter 2 – Stay Tuned for Chapter 3

Mistake #2 – Not Taking Advantage of the “Stretch Option”

If there is money left in your IRA, who do you want to leave it to and how much do you want to leave to the IRS? In 2001, the IRS proposed sweeping changes that would create a magnificent financial planning opportunity for owners of IRAs and other qualified retirement plans. These changes went into effect in 2002 and dramatically simplified the complex IRA distribution rules. The new rules were designed, in part, to help prevent owners of retirement plans from outliving their retirement savings, but they did much more. These new rules also created an income planning opportunity that would allow the taxes on IRA distributions to be spread over three generations. Prior to the new rules, the methods of calculating the Required Minimum Distributions that must begin after age 701⁄2 were complicated. Choosing the wrong method could result in rapid distribution, causing rapid taxation. Even worse, children and grandchildren who might inherit these accounts were forced to pay all of the IRA taxes in one to five years. For many IRA owners and their families, retirement planning became a TAX nightmare. Beginning in 2002, three major changes created the “Stretch Option”



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For More Information Go To:  Top 10 IRA Mistakes and How To Avoid IRS Tax Traps

New Book - David F Royer - Top 10 IRA Mistakes and How To Avoid IRS Tax Traps

This book will help your prospects understand why getting a Second Opinion from You, can save them Thousands in IRS Penalties, Prevent Rapid Taxation, and Reduce Excessive Fees and Loads.

The Retirement Plan Owner’s Essential Guide to Navigate the Minefield of IRS Regulations

  • Avoid the 80% IRS TAX TRAP
  • Avoid Costly IRS Penalties
  • Why most Beneficiary Documents Don’t Work
  • Increase your IRA Income
  • Convert your IRA into Tax Free Income
  • Reduce your IRA Taxes
  • Take Control of your 401(k) and 403(b) Plans
  • Don’t let Fees and Loads Erode your Savings
  • Learn why a Second Opinion can Save You Thousands
  • Avoid the Top 10 IRA Mistakes
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