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Author: Macino Financial

The Stretch IRA Is About To Snap Under the Secure Act

[vc_row triangle_shape="no"][vc_column][vc_column_text]By Lewis Braham A new retirement bill passed by the House of Representatives this May has many perks for IRA owners, but one significant drawback for wealthy investors—the death of the “stretch” IRA. Investors who don’t need their IRA savings to fund their retirement have long used a tax-advantaged way of bequeathing that money to their heirs, stretching out the withdrawal period for the account’s assets. Investors are required to take a minimum distribution (RMD) once they turn 70½, and any money in the IRA that’s left to heirs is also required to be withdrawn within a certain time frame—but with a...

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