Is your IRA a tax trap waiting to happen?

Michigan retirees with $500,000 or more in traditional IRA or 401(k) accounts may be sitting on a retirement tax problem they don't fully see yet.

Most people spend decades building their retirement accounts. What they don't realize is that every dollar sitting in a traditional IRA or 401(k) account is a shared asset.

The IRS owns a portion of it, and they will collect on their schedule, not yours.

When you turn 73, the government forces you to start taking money out, whether you need it or not.

For many high-net-worth households, those forced distributions can

push your income into higher tax brackets increase Medicare premium and

create a larger tax burden for your surviving spouse

The Retirement Blindspot Review

This is a private 15-minute conversation with Peter Mitroff, founder of Stoney Creek Advisors and a fee-only fiduciary wealth manager.

The purpose is simple: to determine whether your current retirement plan has a hidden blind spot and whether a more detailed analysis would be of value to you. There is no cost and no obligation.

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Is your IRA a tax trap waiting to happen?

Michigan retirees with $500,000 or more in traditional IRA or 401(k) accounts may be sitting on a retirement tax problem they don't fully see yet.

The Retirement Blindspot Review

Not ready to schedule a call? Check the box above to receive our Retirement Blind Spot Guide and Tax Strategy Updates.