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Strategies & Market Trends : Sonki's Links List -- Ignore unavailable to you. Want to Upgrade?

To: Sonki who wrote (380)	3/11/2007 11:25:32 AM
From: Sonki	Respond to of 395

2007 rule change in 401k /403 not good for inheritance by kids how to get around is to do rolloever directly without handling the money in to rollover "inherited" ira and ask the distribuiton over kids life time ( else will be distributed (taxed ) in 5 yrs if in 401k or if not speicifed ). if death occurs in 2007 u have till december of 2008 to rollover . partial distribution must take place in 2008 else big penelty. Distribuiton takes over the oldest child's life time . i.e. (84 life expect - 14 childs age) = 70yrs. u have to take out ur ira over the next 70yrs is better then next 5 yrs for tax purpose. marketwatch.com marketwatch.com P.s. if ur spouse close to 55-60yrs age u dont want your spouse to get ur ira as they will be forced to take distribuiton soon. If you have roth u can sleep pretty as there are no tax . that is why i suggest to start Rothing ur ira if ur income is in lower bracket now.

To: Sonki who wrote (380)	3/11/2007 10:38:57 PM
From: Dennis	Read Replies (1) \| Respond to of 395

thanks .......I rolled my 403b over to IRA as soon as I retired....my wife did the same with her 403b. Now, should the son get them when we kick ?????.........hmmmmmmmm Hope everything is good with you...........we missed the Tornado by about 1 mile here in The Villages....our friends got smashed pretty bad....they are rebuilding....we helped clean the messed for 2 days before turning it over to the pros. What a mess.....over 1000 homes got smacked....scary stuff. Looked like a war zone. Anyway,....everything is getting better now. We love it here in The Villages and the place is still growing like crazy. Peace Dennis