An inherited IRA is essentially an IRA received by a beneficiary after the original owner passes away. Whether it's a spouse, child, or another loved one, the key characteristic of an inherited IRA is that it transitions ownership upon death.

As Grayson Blaszek explains, the funds are transferred intact, but the way you handle and withdraw these funds comes with specific rules and timelines. Grayson and Matthew dig into the new rules in this episode.

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📰 See the full show notes here

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• [4:50] Differences between eligible and non-eligible designated beneficiaries
• [6:16] Why it’s important to list IRA beneficiaries to avoid tax inefficiency
• [8:19] The year that you inherit an IRA impacts that distribution requirement
• [10:18] Discussing inheritance can lead to meaningful conversations that make financial planning easier
• [14:17] You need to continue taking the required minimum distribution (RMD) if the decedent began them already
• [16:00] How to handle a 10-year account withdrawal strategy
• [22:07] Key takeaways about your withdrawal options with the new rules as a non-eligible designated beneficiary

Investing can feel like a battle between two polar opposites within us, the rational and the emotional, just like the classic story of Dr. Jekyll and Mr. Hyde.

This week, Dr. Jekyll and Mr. Hyde are our model investors, and we’re talking you through the spooky story of the risks, emotions, and rational strategies involved in long-term investing.

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📰 See the full show notes here

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Outline of This Episode

• [03:06] Dr. Jekyll and Mr Hyde's wildly different investment strategies
• [06:00]Strategies that help mitigate emotional reactions during elections and global crises
• [07:38] Balancing short-term market volatility with a long-term investment perspective
• [10:37] How to stay aligned with long-term goals in the face of market downturns
• [13:28] Diversification to manage risk in an investment portfolio
• [14:17] Psychological factors that cause investors to feel more confident during market upswings
• [15:35] Automating your investment and savings strategy to prevent emotional decision-making

Reaching your financial goals builds confidence and peace of mind, which are essential for making informed decisions that benefit your entire family.

In this episode, we’re following a fictional pop culture couple from newlywed to pre-retirement, to demonstrate how their thought process around an emergency fund could evolve with their changing circumstances.

Join us as we lay out a case study of planning that helps them balance their accessible wealth with a healthy emergency fund.

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📬 Download your Free Retire On Purpose Guide here.

📰 See the full show notes here

🌐 Sign up here to receive Retirement Weekly to get one email every week on all things retirement