7 Common IRA Mistakes and How to Avoid Them

Published on: Sep 9, 2023

We’re talking about the 7 common mistakes people make with their IRAs, Roth IRAs, 401ks, 403bs, and even TSPs.
People work hard to save during their working years. They invest their money in their TSPs, and 401ks, they see the money deducted from their paycheck and check their statements occasionally. Then when they leave that employer, they roll that money into an IRA. So it sounds really simple, right? But it’s not as simple as you might think.

There are some simple but costly mistakes that you can make, like:

  • Missed opportunities to maximize your IRA or your 401k.
  • Ignoring or not planning for old 401ks.
  • Failing to plan for the second half of life.
  • Not having a strategy to defend against the potential large expenses you could incur in retirement.
  • Ignoring QCDs.
  • Converting to Roth all at once.
  • Indirect rollovers.

In this episode of Beacon Retirement Strategies, we’ll discuss these mistakes in depth and let you know how to avoid them.

The last thing you want to do is wind up in retirement having lost money or opportunity simply because you didn’t know these costly mistakes.

Without a comprehensive retirement plan, you could find yourself overpaying in taxes and fees, running out of income, being blindsided with unexpected healthcare expenses, and possibly even having to return to work. We offer a FREE Financial Plan Checkup to ensure you have a solid retirement plan in place. See how you can make your money work for you with a FREE Financial Plan Checkup.

Whether you work with us or not, we are happy to talk with you and give you a free second opinion. We’re all in this together.

Schedule your Free Financial Plan Checkup today.

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