Skip to main content
No. of Recommendations: 0
"So if you are waiting until 70 for social security, what happens when you have to take RMDs and then when one of you becomes single ? "

RMDs are for individual accounts. Can't have joint IRAs.

Depends how one becomes 'single'.

Divorce - finances governed by divorce degree for assets outside SS. SS is per individual. But if one worked, one didn't, might be compensated in divorce degree with other assets or payments. Even if spouse worked, or had lower paying job, can file on spouse's earnings record.

Death - one party may 'inherit' the IRA - but have to spend it down per the IRS table quickly - or may go to other heirs. per the will and what is on file for the IRA beneficiaries.

Death - one party may wind up with 'joint' assets like stock/bonds per the will......or not.




t
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.