Real Answers for Life’s Money Challenges
I will soon be 90 years old.
My wife passed in 2017, and I inherited her IRA account.
I now withdraw $1,200 every three months.
What can I do?
Taxes are owed on retirement account contributions because those distributions are income similar to any other income you earn.
You cant legally evade these taxes entirely.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Go ahead and start now, but be sure to bookmark this post so you could easily return later.
Well keep it updated as offers changes or expire.
That might help you keep a larger portion of the inheritance in the long term.
Or you might use anIRS payment planto spread your payments out over several months or even several years.
Dana Miranda is a Certified Educator in Personal Finance, author, speaker and personal finance journalist.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…