Are you in your 60s and in good health?

By Rich Grassano of Boca Accounting

You may wish to consider another little used technique to reduce your Required Minimum Distributions (RMDs) which start from your IRA or pension plan at age 70 ½. Many of our clients are looking at reaching 90-100 years old and are concerned about running out of money later and being too highly taxed today.

The technique is called a QLAC (Qualified Longevity Annuity Contract) you can invest up to $130,000 from your existing IRA into this annuity which will guarantee lifetime income starting as late as 85-years-old without taking a taxable distribution now. This will also reduce your RMDs in the short term.

Boca Accounting works with your financial advisor to guide you through retirement and the unique problems and planning needed. So, give us a call to discuss this technique and other ideas you haven’t heard on the financial networks.

Boca Accounting LLC, CPAs
190 NW Spanish River Blvd
Boca Raton, FL 33431
561-226-4646 (PH)

Steve Whitehill has a richly diverse background, with decades of experience owning or holding key management positions across several different industries. Some career highlights include senior management positions in consulting and auditing for such firms as Anderson Consulting and PricewaterhouseCoopers, where he was directly responsible for obtaining top clients such as Gulf Oil, NYC Off-Track Betting and Nivea. Steve served as Vice President and Executive of the DSDR Division of Chase Manhattan Bank’s internal audit department.

Are you in your 60s and in good health?

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