Mailbag: Investing Extra Income and Handling an Inherited IRA

Source: https://www.podbean.com/eau/pb-wti3h-... In this mailbag episode, David answers two practical listener questions about managing unexpected financial opportunities. One listener recently paid off their mortgage and now has an extra $3,000 per month to invest, while another is navigating the tax implications of inheriting an IRA. David walks through several potential options for putting extra cash to work- ranging from CDs and brokerage accounts to fixed annuities- while also clarifying the complex withdrawal rules tied to inherited retirement accounts. Here’s some of what we discuss in this episode: 🏠 Ideas of what to do with extra monthly cash after paying off your mortgage📈 Investment options beyond retirement accounts, including brokerage accounts and ETFs🏦 The pros and cons of CDs, money markets, and fixed annuities🧾 How inherited IRAs are taxed and the potential impact of the 10-year withdrawal rule⚖️ Why timing withdrawals carefully could help reduce your overall tax bill   For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.