Ep. 1999: IRA Mistakes You Can’t Undo

Some IRA mistakes cannot simply be reversed. Don and Tom explain the traps around non-spouse beneficiary transfers, the one-rollover-per-year rule, 72(t) plans, the same-property rollover rule, outdated beneficiaries, qualified charitable distributions, missed RMDs, and portfolio drift.Then Mike from Salt Lake City asks how aggressively he should convert a traditional IRA to Roth before Social Security and future inherited assets change the tax picture. Don and Tom discuss bracket management, paying conversion taxes from taxable savings, QCDs, inherited pretax accounts, and rerunning the plan every year.They also answer whether costs matter in 529 and UTMA accounts and review a globally diversified retirement portfolio approaching withdrawals.00:00 Dixieland intro01:28 IRA mistakes you can’t undo03:00 Non-spouse beneficiary transfers04:50 The one-rollover-per-year rule05:45 Altering a 72(t) plan07:43 The same-property rollover rule10:56 Beneficiaries, QCDs, RMDs, and portfolio drift16:20 Roth-conversion strategy22:42 Listener questions23:44 529 and UTMA expenses24:40 Reviewing a retirement portfolio27:43 Wrap-up28:47 DisclosuresQuestions? Comments? Click the microphone at TalkingRealMoney.com.

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