Individual Retirement Account IRA: Inherited IRA

In many cases, the largest asset that an individual accumulates during their lifetime is a retirement plan account or IRA. This may be the largest or only asset available to pass on to future generations. Unfortunately, improper planning can quickly deplete the value of retirement plan and IRA assets, as income taxes can take their toll. 

The inherited/stretch IRA planning strategy can increase the net amount to clients’ heirs, and help them achieve their financial goals. By structuring a traditional or Roth IRA properly at the IRA owner’s death, a beneficiary can establish an inherited/stretch IRA by keeping the IRA in the deceased owner’s name potentially for the beneficiary’s lifetime. After the IRA owner’s death, beneficiaries must receive a minimum distribution from the inherited/stretch IRA every year, which creates an annual legacy in your client’s name. 

However, a beneficiary generally has the ability to take more than the minimum distribution amount at any time. The remaining balance of the Inherited/stretch IRA retains its tax-deferred status, therefore, income taxes are not due until each payment is received.

Questions?   Contact us www.MintcoFinancial.com

Individual Retirement Account IRA

Invest in an individual retirement account (IRA) to build your savings and get tax benefits.

An IRA is an easy way to save for retirement. You get to choose the investments you want, your earnings can grow tax-deferred and withdrawals you take at retirement may be tax-free.

 Traditional IRA


A traditional IRA is a great way to build your retirement nest egg while enjoying tax benefits. You won’t pay tax on your earnings until you make withdrawals, and your contributions may be tax-deductible. This could be the right choice for you if you are under 70½ and have earned income.  

Roth IRA

With a Roth IRA, your contributions aren’t tax-deductible— but your earnings grow tax-deferred and withdrawals can be made tax-free. Unlike a traditional IRA, you don’t have to make annual withdrawals at a certain age. A Roth IRA could be the right choice for you if you expect to be in a higher tax bracket in the future.  

Rollover IRA

If you have assets in an old employer-sponsored retirement plan, it’s easy to move them into a  Rollover IRA Account. You keep the tax benefits and get to choose how your money is invested. This could be the right choice for you if you’ve changed jobs or retired. 

Inherited IRA

If you’re the beneficiary of an IRA, opening an inherited IRA will preserve the tax-deferred status of the account. This could be the right choice for you if you don’t have an immediate need for the cash and you want to avoid taxes that would be due if you were to take the assets as a lump sum.  

Custodial IRA

A custodial IRA makes it possible to set up a retirement account for a minor so that he or she can benefit from tax-free or tax-deferred growth. Custodial IRAs require that an adult be named as custodian of the account until the minor reaches the age when he or she can take control of the assets. This could be the right choice for you if you’re the parent of a child under 18 who has earned income. 

Please feel free to contact us at   www.mintcofinancial.com

or e-mail at  anecamara@mintcofinancial.com

401K Rollover into IRA

When an employee leaves a company, the money can be rolled over into a new 401(k) account hosted by the new employer. You can also consider an IRA (individual retirement account) at an independent financial institution. A third option is to roll it directly into an IRA held at a mutual fund company.

The 401(k) rollover is ideal because it allows you to transfer your existing retirement account into another retirement account without being subject to unnecessary taxes or withdrawal penalties. Remember, retirement accounts like a 401(k) are funded with pre-tax dollars, and grow tax-deferred. That means if you take a premature distribution, the IRS is going to stick you with taxes on all of that money, and also apply an additional 10% penalty if you withdraw the money prior to age 59 1/2. This is a pretty raw deal if you don’t need that money for a dire emergency, yet so many people will take the penalty simply because they don’t know how to do a rollover.


Consult us!
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We will help you  with the process of your 401K Rollover into an IRA or simply answer your questions. 

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