What to Know About the IRS Changes to Inherited IRAs and RMDs

In recent years, there have been significant changes to the rules governing inherited IRAs and Required Minimum Distributions (RMDs), primarily due to the introduction of the SECURE Act. These changes have left many people confused and unsure about how to proceed with their financial planning. Thankfully we have clarity now that the IRS has issued final regulations and today we’re going to update you on what’s most important for your retirement.  

For this week’s Kingdom Minute, we’ll spend time on this question: Is Jesus Lord of all your affairs, or is there still one part of your life where you insist on being ‘in charge?’ That one area, all too often, is money. We all have to make a decision. Will we live in God’s economy or man’s?

Join us for a great episode with a lot of valuable information.

 

Here’s some of what we discuss in this episode:

• What is an inherited IRA and what did the rules used to be?
• What are the rules now and how do they differ for a spouse and non-spouse?
• The new regulations for RMDs to be aware of.

 

Get in touch with Chessman Wealth: https://www.chessmanwealth.com/ 

The opinions voiced in The Money Knight podcast with Wade Chessman of Chessman Wealth Strategies are for general information only and are not intended to provide specific advice or recommendations for any individual. Past performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Investing involves risk, including possible loss of principal. No strategy assures success or protects against loss. To determine what may be appropriate for you, consult with your attorney, accountant, financial or tax advisor prior to investing.

Investment advisory services offered through CWM, LLC, an Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors.