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Podcast: The Wise Money Showâ„¢
Episode: Inherited IRA Rules for Spouses Under the Age of 59.5
Description: Losing a spouse is emotionally devastating, and it also comes with complex financial decisions. If you've inherited an IRA and you're under age 59 1/2, the choices you make could significantly impact your financial future. In this episode of Wise Money, we're joined by Matt Hoke to break down the unique rules and options available to surviving spouses under 95.5 who inherit a retirement account.Â
We'll cover:
- The difference between treating the IRA as inherited vs. your own
- How to avoid the 10% early withdrawal penalty
- When Required Minimum Distributions (RMDs) apply