[Subscribe to Daily Digest] |
[Main General Bulletin Board | BBFAQ |
Prev by Date | Next by Date | Post Followup ]
Member Login / Signup - Members see fewer ads. - Latest Member Gallery Photos
You are exactly right Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Fri, 25 Jul 2014 17:00:21 In Reply to: Not getting it, DE [Profile/Gallery] , Thu, 24 Jul 2014 15:14:02 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I did not realize years ago how skewed these tax advantaged plans are against transferring wealth to the next generation. They are fantastic tools for building wealth. They are horrible at transferring wealth. I am guessing many others did not know that side of these plans when they first started investing in them either.
If a person's goal is to transfer wealth to their children or grandchildren upon their own death, then they need to plan ahead to make the investment changes necessary to allow this to happen. Special rules apply to the inheritance of these tax advantaged plans which apparently (I am still learning) prevents their inclusion with the currently large estate tax exclusion.
If a person doesn't have heirs, or doesn't feel a need to maximize the estate their heirs will receive, then the large taxable RMD withdrawals and immense tax bite on the remainder is not a concern.
I know people in both camps and this is purely a personal decision, whatever is correct for them.
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.