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117 Things We Do for Our Clients - Number 16 - We Review Your Existing IRAs


It is easy to make mistakes in managing your IRA, and some common mistakes can defeat many of the benefits of having an IRA. These include:

  • failing to maintain accurate beneficiary information

  • contributing to an IRA when you are not eligible

  • using a traditional IRA when you should use a Roth IRA

  • using a Roth IRA when you don’t qualify

  • not tracking nondeductible IRA contributions

  • not taking required minimum distributions or taking incorrect amounts

  • not properly executing 60-day rollovers

  • not protecting IRA assets from creditors

improperly allocating asset classes

  • taking lump-sum distributions, and

  • converting a traditional IRA to a Roth IRA when you shouldn’t.

We review your existing IRAs and help you avoid these common mistakes.


*To see the whole list of "117 Things" in progress, click here.

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