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Weekly Webinar: Common Roth IRA Questions, Part 3 – Distributions

Mark returns this week with an all-new Weekly Webinar designed to assist you in managing your finances and attaining a financially stable retirement. In this week’s webinar, Mark covers the latest Slott Updates, briefly touches on market developments, and then dives into the main topic of the day, which is the final installment of a three-part series addressing frequently asked questions about Roth IRAs. In this installment, Mark explores the subject of Roth Distributions.

To begin the conversation, Mark addresses the Secure Act 2.0’s 10-year rule in 529 plans, allowing unused funds to roll into a Roth IRA. He also explores the challenge of overfunding 529 plans. Shifting to Required Minimum Distributions (RMDs), Mark stresses their significance, clarifying RMDs for an inherited IRA. He explains Bruce’s need to take his mother’s 2023 RMD and highlights the 10-year payment rule for Roth IRA beneficiaries, distinguishing it from traditional IRAs with mandatory annual RMDs and a lump-sum option in the tenth year.

Moving on, Mark reviews recent market trends, noting a mild NASDAQ dip of around 0.5%. He highlights China’s decision to restrict Apple device use by government officials, suggesting potential US-China tensions. Mark discusses global economic factors like labor markets, potential Fed easing, and Goldman Sachs’ insights on China’s challenges. He stresses not letting external factors drive investments, advocating a modern portfolio-based strategy. Mark underscores a structured plan with principal protection and account segmentation to navigate market uncertainties. He concludes by emphasizing unpredictable markets and the need for prudent decisions within a solid financial plan.

Common Roth IRA Questions, Part 3 – Distributions

For the Financial Fifteen segment and the conclusion of a three-part series on common Roth IRA questions, Mark focuses on when money can be withdrawn tax-free from these accounts. Mark clarifies tax-free withdrawal criteria, including age, disability, first home purchase, or beneficiary status. He distinguishes between the “Five-Year Forever Rule” simplifying tax treatment for those over 59 and a half and the “Five-Year 10% Penalty Rule” for those under, discouraging immediate conversions to dodge penalties. Beneficiaries follow the same tax rules. Contributions can be withdrawn tax-free anytime, but growth needs five years and other criteria. Mark stresses avoiding overconverting or overfunding Roth IRAs. He highlights the absence of RMDs in Roth IRAs as a significant advantage and mentions the exception at the end of the 10th year for beneficiaries. Lastly, qualified Roth IRA withdrawals don’t affect Social Security taxation.

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The opinions expressed in this program are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. Any past performance discussed during this program is no guarantee of future results. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional.

Attleboro Wealth Management, LLC is a Registered Investment Adviser. This program is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Attleboro Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Attleboro Wealth Management, LLC unless a client service agreement is in place.

0:00 – Introduction & Upcoming
03:19 – Slott Updates
13:45 – Market Updates
25:49 – The Financial 15: Roth Distributions

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