Business & Investing
Sponsored by

Friend just inherited a 401k..

3,366 Views | 12 Replies | Last: 5 yr ago by O'Doyle Rules
Good Poster
How long do you want to ignore this user?
AG
One of my close friend's dad passed away recently and he is inheriting a 401k account. (Friend is Age 60) the account is going to be split between a few kids but he is inheriting close to 100k of it. What can he do with this?
investorAg83
How long do you want to ignore this user?
AG
Money Ag said:

One of my close friend's dad passed away recently and he is inheriting a 401k account. (Friend is Age 60) the account is going to be split between a few kids but he is inheriting close to 100k of it. What can he do with this?


Until there are more details, the only proper response is hookers and blow.
Aggie_2463
How long do you want to ignore this user?
AG
investorAg83 said:

Money Ag said:

One of my close friend's dad passed away recently and he is inheriting a 401k account. (Friend is Age 60) the account is going to be split between a few kids but he is inheriting close to 100k of it. What can he do with this?


Until there are more details, the only proper response is hookers and blow.


x2 ....rock on
DadAG10
How long do you want to ignore this user?
Anything he wants.
Stive
How long do you want to ignore this user?
AG
And the OP's user name does NOT check out.
Red Pear Realty
How long do you want to ignore this user?
Sponsor
AG
Money Ag said:

One of my close friend's dad passed away recently and he is inheriting a 401k account. (Friend is Age 60) the account is going to be split between a few kids but he is inheriting close to 100k of it. What can he do with this?
Edit: You can open this up in a new window or zoom your screen to see this a little more clearly.
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
NoahAg
How long do you want to ignore this user?
I would invest half of it in low risk mutual funds and then take the other half over to my friend Asadulah who works in securities...
aggiebq03+
How long do you want to ignore this user?
Two chicks at the same time.
The Lost
How long do you want to ignore this user?
Something something Pay taxes
AggieFrog
How long do you want to ignore this user?
AG
The Lost said:

Something something Pay taxes

My first thought
GE
How long do you want to ignore this user?
AG
Depends on his financial situation, health, current sources of income, lifestyle, goals, etc...

The only three uses that make sense depending on his situation are to invest it, spend it, or give it away, so I guess that is the generic answer to the generic question asked.
Rasslin Cheesehead
How long do you want to ignore this user?
AG
He will need to covert it into an inherited IRA. If his dad was taking RMDs then he will need to take RMDs, but he can do it based on his age. He can take it over the course of his lifetime. It will be taxable when he does take it out. More than likely he will not want to take a lump sum if he's working.
nactownag
How long do you want to ignore this user?
AG
Even if his dad wasn't taking RMD he will have to take RMDs No matter the beneficiary age
O'Doyle Rules
How long do you want to ignore this user?
AG
"Friend"
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.