The Individual Retirement Account (IRA) is a very popular savings program for millions of Americans. It is a structured retirement tool that provides additional financial security at the time of retirement.
It is important to understand that IRA Accounts are subject to RMD’s (Required Minimum Distributions). RMD’s are legally mandated withdrawls that begin to affect an IRA once the investor turns 72 years of age or 70 ½ if they reached 70 ½ in 2019.
The exciting benefit of an IRA is that Congress has enacted legislation to provide for a permanent IRA Rollover. The provisions of this legislation allow you to roll over up to $100,000 annually to a charity of your choice, tax free. Yes, tax free. To qualify, the funds must be transferred directly to our foundation.