Depending on your cash needs, you have several options for cashing out, or letting (most) of your inherited IRA grow free of taxes until you need it
Before You Cash Out an Inherited IRA, Review Better Options
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Best Way to Save for Your Kid’s College?
The best ways to save for college are a tax-advantaged Qualified Tuition Program (QTP) or 529 account, followed by a Coverdell Education Savings Account (ESA), or an IRA
Teens: Start Investing Today in a Roth IRA
Stash that summer income today, and become a millionaire in just half a century, thanks to the magic of compounding
This information has been provided for educational purposes only and should not be considered financial advice. Any opinions expressed are my own and may not be appropriate in all cases. All efforts have been made to provide accurate information; however, mistakes happen, and laws change; information may not be accurate at the time you read this. Links are included for reference but should not be considered an implied endorsement of these organizations or their products. Please seek out a licensed professional for current advice specific to your situation.
Liz Baker, PhD
I’m an authority on investing, retirement, and taxes. I love research and applying it to real-world problems. Together, let’s find our paths to financial freedom.
