by Claudia Mott | Jan 28, 2022 | Investments, IRA
Q. My father died in 2006. I turned 72 in 2018. The new law says you must take out all the money from an inherited IRA within 10 years of the death. So where does that leave me? — Beneficiary A. We’re sorry to hear about your father. You are correct that new laws were... 
by Claudia Mott | Jun 4, 2021 | Non-Qualified Annuity, Qualified Annuity, Roth IRA
Q. I’m 67 and I have a small annuity. Is it worth switching it to a Roth IRA at this stage? I still add to the annuity. — Investor A. There are several issues that come into play here. You didn’t say whether this is your only savings or what other kinds of retirement... 
by Claudia Mott | Sep 25, 2020 | 401(K), 401(K) Rollover, IRA, IRA Rollover, Retirement
Q. I left my retirement funds in the 401(k) of my previous employer. It’s invested very conservatively, so I haven’t lost much since 2008 but I haven’t gained much either. Is there any advantage – or any reason – to move the money to an IRA? For all... 
by Claudia Mott | May 22, 2020 | IRA, Retirement
Q. I was going to start withdrawing from my retirement savings after I turn 70 on June 15, 2020, but heard that the required age for withdrawals is now 72. I have $1,234 per month from Social Security. Should I let the retirement money grow? — Retired A. You’re... 
by Claudia Mott | Aug 8, 2019 | 401(K), IRA, Pensions, Retirement
Q. Since many millenials are working for companies offering no pensions, would it be wise to get an annuity that could act like a pension? — Wish I had one A. There are very few pensions to find these days. You’ll still see them for public sector employees, but fewer... 
by Claudia Mott | Jul 11, 2019 | IRA, Roth IRA
Q. I have a question regarding the Roth IRA five-year rule. If I contributed $1,000 for five consecutive years, from 2010 to 2015, can I withdraw the full $5,000 plus gains in 2015 without penalty or do I need to wait until 2019 to withdraw the 2014 contribution? —...