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what will the stock market do?

Henry0Reilly
I have to take a required withdrawal from an inherited IRA. I'm not sure if I should do that now or after the election.

Any advice?
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Comments

14 comments

Date Votes
  • wpage
    Its a gamble. No one knows.

    If you win you pay tax. If you lose. You simply lose.
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  • Rocky Raab
    Watch it, and when it's up take your required withdrawal.
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  • droptop
    Think of all the money you'll save in taxes if the stock market goes down. [:D]

    If it's a required withdrawal take it now. The market is pretty close to an all time high, relatively speaking 1,500 points). [:D]

    Think the market hit a bottom last Friday, but who knows.

    Dow Jones Chart: https://www.dailyfx.com/dow-jones

    Will not be inheriting an IRA so doubt if I'd ever study my situation. But here you are, lucky, so this is where I'd start checking or verifying advice given by professionals.

    https://www.schwab.com/public/schwab/investing/retirement_and_planning/understanding_iras/inherited_ira/withdrawal_rules

    Plus the IRS probably has useful information. Guess the IRA isn't a ROTH.
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  • mogley98
    Move the money into something safe and start withdrawing now.

    That way if the market goes down you lose nothing.

    Hopefully the RMD doesn't shove you into a higher tax bracket.

    Even if the market soars while you have the money safe you inherited it and already "made" bank on it.
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  • Henry0Reilly
    quote:Originally posted by mogley98
    Move the money into something safe and start withdrawing now.


    I have no control over how this is invested. I can't add to it or move it around, only take it out.

    quote:If you win you pay tax.

    I have to pay tax anyway, that's the reason the IRS requires minimum annual withdrawals.
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  • Rack Ops
    The market is overpriced.

    Some stocks are cheap, but not many.

    I'd get out unless I had total control over of how it is invested.
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  • Bottom Gun
    Precious metals will be moving up as the stock market falls.
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  • He Dog
    Likely not too much will happen until after Christmas, when it will rise. Take it when you need it. If you don't need it, invest it.
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  • mogley98
    Odd that you can't roll it over into your own IRA or make any changes?

    That said other then talking to a FA, I guess you just do the minimum withdraw at the end of the year since it will be the same amount withdrawn if it goes up or down and the potential gain or loss on the amount withdrawn probably won't matter that much. I am sure you have already checked into why it can't be moved around or rolled over though.

    quote:Originally posted by Henry0Reilly
    quote:Originally posted by mogley98
    Move the money into something safe and start withdrawing now.


    I have no control over how this is invested. I can't add to it or move it around, only take it out.

    quote:If you win you pay tax.

    I have to pay tax anyway, that's the reason the IRS requires minimum annual withdrawals.
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  • Henry0Reilly
    quote:Originally posted by mogley98
    Odd that you can't roll it over into your own IRA or make any changes?... I am sure you have already checked into why it can't be moved around or rolled over though.


    I can do whatever I want with money that comes out, but I can't make any changes (other than selling) with the inherited IRA. Putting it into my IRA wouldn't count as a "rollover" for tax purposes.
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  • He Dog
    I have to withdraw from my 457 as I am past 70 1/2, but I do not have to touch the Roth IRA. If it is an IRA why are you required to withdraw?
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  • JIM STARK
    The MRD is based on the amount in the IRA as of 12/31/2017... I got my notice and the amount in Jan. 2018...
    My IRA is not a Roth..
    JIM...............
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  • Maalox
    I can understand why you don't want to roll over the inherited IRA but I don't understand why you can't change the investments within the IRA. Is it part of a trust?
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  • Henry0Reilly
    quote:Originally posted by Maalox
    ...I don't understand why you can't change the investments within the IRA. Is it part of a trust?quote:Originally posted by He Dog
    If it is an IRA why are you required to withdraw?


    Dad was 84 when he passed away. I have to make minimum withdrawals just as he would have; can't be shorting the IRS their cut. I do not know why I can't move the money around but I am sure Edwards Jones wouldn't say that was so if it was not.
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