You have surely heard the saying that “Timing is everything”, but you may not have heard it in reference to IRAs. An article posted by Robert Powell with the above title highlights 5 important timing rules that you need to consider when developing and executing your retirement plan. Here are the five timing issues that seem to generate the most problems:
1. The age-55 penalty exception
2. The five-year rule for 72(t) payments
3. The five-year rule for Roth IRA conversions
4. Five-year rule for Roth IRA qualified distributions
5. The timing of non-spouse beneficiary RMDs
Please click here to read the full descriptions into any of these items. The tax code is not exactly friendly when it comes to timing issues, so we need to make sure that our retirement plans appropriately address items such as these.