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.