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sprinkleeninow

(20,546 posts)
4. Good God I read all of it but not word for word. You are a wizard.😍
Mon Dec 28, 2020, 04:06 AM
Dec 2020

If I may, I'll outline a condensed explanation of what I been going thru from last year. Getting multiple versions and answers as to how this thing'll work. I read extensively but the new IRS rules due to the pandemic make a difference in RMDs. An advisor says I didn't in 2020 but yes in 2021.

I just converted/rolled over 2 inherited 401ks into a traditional IRA. Some along the way advised it would be designated as an inherited IRA, but I think that's not correct. I'm 5 years older than my husband who reposed at age 66 in 2019. My understanding is that I need not take RMDs until 'he' would've reached the age requirement of 71 or 72. So I'm not pressured to start in 2021? Naturally I don't want to get into trouble and end up paying penalties.

The investment firm I did this with asked if I wanted to consider a Roth and I said no. Only bc of my age.

Latest Discussions»Culture Forums»Personal Finance and Investing»Why are so many financial...»Reply #4