Top 10 IRA Mistakes To Avoid

Top 10 IRA Mistakes to Avoid

  1. Taking the wrong RMD amount.
  2. Taking distributions too early.
  3. Failure to properly identify designated beneficiaries.
  4. Not knowing the special rules for spousal IRA beneficiaries.
  5. IRA beneficiaries fail to take advantage of a stretch option.
  6. Taking RMDs after the deadline.
  7. Not knowing the non-spousal rules for IRA beneficiaries.
  8. Disclaiming errors.
  9. Rollover errors.
  10. Assuming a will takes care of everything.


Did you make an IRA mistake or are you positioned to potentially make a mistake with your IRA?  Some mistakes come with hefty penalties, while others may not be corrected.  Talk to your retirement distribution expert for assistance today!


More Updates


The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or workplace retirement plan. A CRD avoids the 10% early distribution penalty for those under 59 1/2, can be

Read More »

Rolling Over an RMD

Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the new normal—at least for this year. RMDs are considered the first money out of an IRA and workplace plan. Typically, these dollars are ineligible to

Read More »

Tapping Into Retirement Accounts If Not Directly Impacted By COVID-19

The recently-­‐enacted Coronavirus Aid, Relief, and  Economic Security Act (CARES  Act) signed by President Trump  on  March  27, 2020, allows  “qualified individuals” to take up  to  $100,000 of  penalty-­‐free IRA and company plan withdrawals during 2020. “Qualified individuals” include those who are (or whose family members are) sickened by the virus or who have virus-­‐related

Read More »
Scroll to Top