In this video, you will learn about Inherited Roth IRAs and some options you have as the new owner. You can take out funds tax free or allow it to stretch or increase value over time. Watch to learn more.
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An inherited Roth IRA is a powerful tool that can help you build wealth and provide financial security for yourself and your family. But what exactly can you do with an inherited Roth IRA?

The first thing you should do is to understand the rules and regulations that govern inherited Roth IRAs. Generally, you must take distributions from the inherited Roth IRA within five years of the original account holder’s death. You can also roll the money over into a new Roth IRA in your name, or convert it to a traditional IRA.

If you decide to take distributions from the inherited Roth IRA, you will pay no taxes on the money as long as you follow the rules. This makes it an attractive option for those who want to use the money for retirement or other long-term goals. You can also use the money to pay off debt, fund a college education, or even invest in stocks, bonds, or mutual funds.

If you decide to roll the money over into a new Roth IRA, you can continue to enjoy the tax-free growth of the account. You can also choose to invest in a variety of assets, such as stocks, bonds, mutual funds, and ETFs.

Finally, you can choose to convert the inherited Roth IRA to a traditional IRA. This will allow you to take advantage of the tax-deferred growth of the traditional IRA, but you will have to pay taxes on the money when you take distributions.

No matter what you decide to do with your inherited Roth IRA, it’s important to understand the rules and regulations that govern these accounts. Be sure to consult with a financial advisor to ensure that you are making the best decision for your financial future.