Losing a spouse is emotionally devastating, and it also comes with complex financial decisions. If you have an inherited IRA and you’re under age 59.5, the choices you make could significantly impact your financial future. In this episode of Wise Money, we’re joined by Matt Hoke to break down the unique rules and options available to surviving spouses under 59.5 who inherit a retirement account.
We’ll cover:
- The difference between treating the IRA as inherited vs. your own
- How to avoid the 10% early withdrawal penalty
- When Required Minimum Distributions (RMDs) apply
- How to preserve flexibility and optimize tax outcomes
- Common mistakes and how to avoid them
Season 10, Episode 45
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This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk, including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.
