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I inherited an IRA from my mother who recently passed. I have 10 years to empty it. I intend to take 10 distributions so as not to push myself into a higher tax bracket. The brokerage it's at now does not offer any sort of self directed option and charges 0.89% to manage it. I'm going to move it to Fidelity.
I'm looking for strategies to invest an inherited IRA for the 10 years I'll be holding and depleting it. I'm fairly conservative, with a realtively low risk tolerance. I'm also not qualified to go picking individual stocks. My 401K is 100% in a target date fund.
My intention is to use the distirubtions to max out my HSA and a Roth IRA I intend to also set up through Fidelity. I have an HSA through work with Health Equities but don't currently invest any of it. I'll set up a seperate HSA with Fidelty strictly for investing. If there is any extra after the inherited IRA distirubtion gets taxed I'll stick it in a taxable brokerage acocunt.
I'm in NJ which taxes gains in HSA's so I'm going to be investing that in T-bills and a NJ municple bond ETF FNJHX to avoid paying state taxes.
I'd lik to gear my Roth toward divend income. I like SCHD, There are a few different REITs I'm looking at. And I'll probably stick 10% into sometihng like VTC just to get some exposure to corporate bonds.
Any extra that ends up in a taxable account will likely be VTI & VXUS
My confusion lies in the fact that unlike other types of investment accounts which you add to a grow until retirement, the inherited IRA is something I'll be drawing down until it's gone. Kind of anti-compounding.. Do I go with a basic safe Bogglehead approach (VTI, VXUS, BND), stick it all into something like VOO (Ala Warren Buffet's adivice to dummies like me who aren't qualified to do what he does), Go totaly safe in some kind of long term government bond, or ???..
submitted by /u/njric71
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I'm looking for strategies to invest an inherited IRA for the 10 years I'll be holding and depleting it. I'm fairly conservative, with a realtively low risk tolerance. I'm also not qualified to go picking individual stocks. My 401K is 100% in a target date fund.
My intention is to use the distirubtions to max out my HSA and a Roth IRA I intend to also set up through Fidelity. I have an HSA through work with Health Equities but don't currently invest any of it. I'll set up a seperate HSA with Fidelty strictly for investing. If there is any extra after the inherited IRA distirubtion gets taxed I'll stick it in a taxable brokerage acocunt.
I'm in NJ which taxes gains in HSA's so I'm going to be investing that in T-bills and a NJ municple bond ETF FNJHX to avoid paying state taxes.
I'd lik to gear my Roth toward divend income. I like SCHD, There are a few different REITs I'm looking at. And I'll probably stick 10% into sometihng like VTC just to get some exposure to corporate bonds.
Any extra that ends up in a taxable account will likely be VTI & VXUS
My confusion lies in the fact that unlike other types of investment accounts which you add to a grow until retirement, the inherited IRA is something I'll be drawing down until it's gone. Kind of anti-compounding.. Do I go with a basic safe Bogglehead approach (VTI, VXUS, BND), stick it all into something like VOO (Ala Warren Buffet's adivice to dummies like me who aren't qualified to do what he does), Go totaly safe in some kind of long term government bond, or ???..
submitted by /u/njric71
[link] [comments]
Continue reading...
