Consolidating inherited iras

Posted by / 05-Feb-2019 03:44

Consolidating inherited iras

Many people opt to do so to make managing their retirement accounts easier.

But there are some disadvantages to these rollovers as well.

If any of those issues could be relevant to your situation, you might be better off keeping your 401(k) account where it is.

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Consolidating your accounts at Vanguard makes managing your portfolio and reaching your goals easier.

There are two basic types: IRAs that are tax-free in retirement (Roths) and those that aren’t (such as traditional IRAs, SEP IRAs and rollover IRAs).

You can combine a SEP IRA with a traditional or rollover IRA, for instance, but you can’t simply combine a traditional IRA with a Roth.

'” says Choate, the author of the retirement-plan guide, “Life and Death Planning for Retirement Benefits.” ADVISER SEARCH: If you’re not sure what to do with that inherited IRA, don’t shortchange yourself.

The following combinations are permitted: Sam inherited an IRA from his Aunt Suzie.

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