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      Financial Focus



      What Should You Do With An                           • How does the inherited IRA fit in with my overall   Consequently, you’ll want to respect this inheritance –

      Inherited IRA?                                     financial strategy?  You’ll  need  to  consider  how  your   and get the most out of it for as long as you can.
                                                         newly inherited IRA fits in to the “big picture” of your
                                                                                                             This article was written by Edward Jones for use by
                                                         financial strategy. Are you adding redundancies? If you   your local Edward Jones financial advisor.
      By Sally Sima Stahl                                keep the inherited IRA largely intact, how will it affect     Edward Jones, its employees and financial advisors
        Individual  Retirement                           your current investment mix? Could the added income   are not estate planners and cannot provide tax or legal
      Accounts (IRAs) are quite                          from  required  distributions  change  your  retirement   advice. You should consult your estate-planning attorney
      popular. At the end of 2017,                       calculations or even enable you to retire earlier? You may   or qualified tax advisor regarding your situation.
      investors  owned  nearly                           want to consult with a financial professional about these     Call me for a free portfolio review at (561) 748-7600,
      $9  trillion  in  IRA  assets,                     and other questions related to your inherited IRA.   Sally Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste.
      according to the Investment                          The  person  who  left  you  an  IRA  worked  hard  for   106, Jupiter, FL 33458.
      Company Institute, a trade                         that  money  and  thought  enough  of  you  to  pass  it  on.
      association of United States
      investment  companies.
      Given  these  numbers,                              Honda Classic Shatters Records from page 1         Several charities are receiving proceeds from the
      it  probably  wouldn’t  be                                                                           American Honda Birdies for Children program, where
      surprising if you inherited an IRA someday. But what   includes a third consecutive individual grant of $1 million   fans donate for the chance to guess the number of birdies
      should you do with it?                              to the Nicklaus Children’s Health Care Foundation.   in the tournament. Fifteen finalists participated in a drawing
        First of all, you’ll need to be aware of some basic rules.     The Honda Classic has given close to $40 million to   on June 14 for a 2018 Honda Civic Hatchback with Sport
      If your parent, or anyone other than your spouse, leaves you   South Florida children’s charities since its inception 37   Touring trim. They each correctly guessed the total of 1,090
      a traditional IRA – one in which contributions are typically   years ago including almost $25 million in the 12 years since   birdies recorded at the 2018 Honda Classic.
      tax-deductible and earnings can grow tax-deferred – you   Children’s Healthcare Charity Inc. took over the event and     When The Honda Classic moved to PGA National Resort
      can transfer the money into an “inherited IRA,” from which   moved it to PGA National Resort & Spa.  & Spa in 2007, it awarded $505,000 to charity. By 2010, it
      you’ll need to take at least a minimum amount of money     Some of the initiatives evolving from The Honda   had eclipsed the $1 million mark ($1,018,000) and it broke
      – technically called a “distribution” – each year, based on   Classic’s charity disbursements this year range from helping   through the $2 million barrier in 2013 with $2.114 million
      your life expectancy. These distributions are taxable at   preschool children involved with Literacy Coalition and   in contributions. It surpassed the $3 million barrier in 2016
      your regular income tax rate. If you’ve inherited a Roth   Grandma’s Place enter kindergarten with essential school   and now has broken through the $4 million threshold.
      IRA, you also must take these minimum payouts, but the   readiness skills, to creating opportunities for children     The growth is a testament to American Honda’s 37 years
      amounts won’t count as taxable income, because your   fighting cancer to meet other young cancer warriors which   as the longest-standing title sponsor on the PGA TOUR
      parents, or whoever left you the IRA, already paid taxes on   creates a sense of community through POST, to supporting   as well as partnerships with PGA National Resort & Spa,
      the contributions that went into it. (To make sure you fully   a safe place for kids to come together free of bullying and   PGA of America, Palm Beach County, the City of Palm
      understand all the guidelines on distributions and taxation   stress and share through song as members of Young Singers   Beach Gardens and the PGA TOUR along with the support
      of inherited IRAs, consult with your tax advisor.)   of the Palm Beaches.                            from Founders Club sponsors Tire Kingdom and United
        It’s also important to understand how your inherited     The Honda Classic has teamed with young Tommy   Technologies, and more than 200 other community-minded
      IRA  will  fit  in  to  your  overall  financial  strategy.   Morrissey’s UnLIMBited Foundation to provide financial   local sponsors. Player, corporate and spectator support has
      Consequently, you’ll need to address these questions:  assistance to children who need limb-correction surgery,   led to increased ticket sales, parking revenues, concessions
        • How much should I take out each year? As mentioned   has helped introduce golf to youth through the First Tee of   and sponsorships. The Honda Classic has also benefited
      above, you must take a distribution of at least a minimum   the Palm Beaches and has helped fund the summer program   the past three years from marquee champions Adam Scott,
      amount from your inherited IRA each year – if you don’t,   attendance of kids and the expansion of Loggerhead   Rickie Fowler and Justin Thomas, who has risen to World
      you may be subject to a 50 percent penalty on the amount   Marinelife Center, a world-renowned sea turtle research,   No. 1 since his victory in the 2018 Honda Classic.
      you should have taken. But you can take out more than   rehabilitation, education and conservation center where     The 2019 Honda Classic will be played February 25 to
      the minimum. In deciding how much to take, you’ll need   youngsters learn about turtle recovery.     March 3, 2019 with Thomas defending his title.
      to evaluate a few factors. First, of course, is whether you
      need the extra money to help support your regular cash
      flow. It’s possible you have other pools of income from
      which to draw, and, in some cases, it may be advantageous
      for you to tap these sources first. Another consideration
      is taxes – if you’ve inherited a traditional IRA, the more
      you take out each year, the bigger your tax bill may be.
        •  Should I keep the same investments?  Inheriting
      an  IRA  doesn’t  mean  you’re  stuck  with  the  original
      account owner’s investment choices. You can change the
      investments to align with your goals and risk tolerance,
      both of which may change over time.

                                                                                 Jupiter Beach Specialists



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