kannon
Recycles dryer sheets
Evening -
I read a good book recently by Ed Slott on IRAs. Was hoping to get real world experiences from those on this blog.
Basically my wife and I each have traditional and Roth IRAs. Financially it looks like we will not need to tap into them before RMD time. We probably won't need the RMD for living expenses.
Our ultimate goal is to allow our two children to inherit our IRAs in the best financially means possible so as the funds can continue to grow as best as can be.
Was hoping for anyone on this blog who has dealt with IRAs at Vanguard and how they set them up (e.g., beneficiary titling,...) so they could be inherited by their children.
Also - in his book, Ed Slott advises getting a life insurance policy (hefty price for sure of those of us in our 60s) paid via our taxable funds so that the life insurance can pay for any of the RMD taxes (so none of the inherited IRA assets need to be taken out, except for RMD). Has anyone done this??
Thank you much for any feedback.
Kannon
I read a good book recently by Ed Slott on IRAs. Was hoping to get real world experiences from those on this blog.
Basically my wife and I each have traditional and Roth IRAs. Financially it looks like we will not need to tap into them before RMD time. We probably won't need the RMD for living expenses.
Our ultimate goal is to allow our two children to inherit our IRAs in the best financially means possible so as the funds can continue to grow as best as can be.
Was hoping for anyone on this blog who has dealt with IRAs at Vanguard and how they set them up (e.g., beneficiary titling,...) so they could be inherited by their children.
Also - in his book, Ed Slott advises getting a life insurance policy (hefty price for sure of those of us in our 60s) paid via our taxable funds so that the life insurance can pay for any of the RMD taxes (so none of the inherited IRA assets need to be taken out, except for RMD). Has anyone done this??
Thank you much for any feedback.
Kannon