I'm 29, unemployed for about 5 years and while wrapping up the will and estate of my mother we learned that I'm getting an IRA. After meeting with her financial adviser ( someone from Edward Jones) I was told I have to clear the inherited IRA within 5 years but we were talking about emptying it into a savings account that will then ne distributed between what he called a medium risk IRA and a low risk IRA along with keeping a little in savings after paying off some minor medical debt (under $5000) so my retirement will be set. Thing is even I have almost no expenses because I'm a stay at home partner in a poly relationship while my other partners jobs cover pretty much everything. So I'm trying to get an idea of how this works including how the taxes on it should work and if this is a stupid decision doing it this way.
Submitted September 14, 2018 at 12:49PM by inheritedira https://ift.tt/2CYJJYW
