Stewardship Financial

🕒 The SECURE Act changed the game for inherited IRAs.

Now, most non-spouse beneficiaries must withdraw all funds by the end of year 10.

But here's the twist:

📊A Required Minimum Distribution (RMD) must be distributed by the end of the 10th calendar year after the year of the individual retirement account (IRA) owner's death. Penalties may apply for missed RMDs. Different minimum distribution requirements may apply to a surviving spouse of an IRA owner or a disabled or chronically ill individual.



Source: IRS.gov, August 26, 2024.
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-beneficiary

Here's a common strategy high earners use: The backdoor Roth conversion! It involves moving money from a traditional IRA to a Roth IRA. Talk to your financial professional to see if it makes sense for you.

Can I Create a Roth if I’m Over the Income Limit? Use this article to start conversations about the “backdoor” Roth IRA strategy.

On the eve of the SMU versus Stanford University football game. Honored to attend the SMU On The Pony Express happy hour with Billy Embody, and generously hosted by SMU benefactors Bill & Liz Armstrong at their beautiful Epoch Estate Wines. With Matthew Medina, SMU Football, SMU Mustangs

At The Phoenician, a Luxury Collection Resort, Scottsdale for the Annual HUB/GRP Conference. Lia Bliss delivered a great presention, "Adapting to a Digital Age".

What was your favorite conference you attended this past year?