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Rollovers keep IRAs relevant by preserving tax shelter

Source: https://usatoday.com/story/money/personalfinance/2017/09/22/rollovers-keep-iras-relevant-preserving-tax-shelter/664222001/ - Sep 22, 2017

Most Americans don't contribute new money to Individual Retirement Accounts. Even fewer take advantage of catch-up contributions. But rollovers? They remain a vibrant area of IRA activity, with continuing growth likely ahead as more Baby Boomers retire and younger workers switch jobs.

Rollovers don’t receive as much attention as IRA contributions or distributions, partly because they’re relatively simple transactions. But there are a few tax pitfalls to beware, and the often-large dollar size of rollovers makes it incumbent on investors to get it right.

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Category: General Business