IRA Rollover

Archive for May, 2007

Question: Am I wise to rollover my 401 (K) into an inherited IRA of 50% equity, 50% bonds?

(at least until interest rates on CD’s increase)

Answer: You need to ask this question to a qualified IRA/Tax specialist, NOT on a board like this. You’ve already received several answers, all of which are either wrong or likely not applicable to your situation.

Inherited IRA’s are treated differently by the IRS than an IRA you established yourself. Much depends on who you inherited it from, how old they were when they passed away, did they begin taking required distributions, did they take all they had to for the year, etc. The rules for taking money out of them (distributions) are different and typically you can NOT add more money to an inherited IRA.

Seek professional, face to face advice on this question.

Simple answers of “Yes” or “No” are best ignored.