Take Time to Manage Ira to Avoid Costly Missteps

Summary

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Complex rules often haunt owners of Individual Retirement Accounts and not paying attention to them can result in a loss of retirement income. By taking the time to manage IRAs, owners and beneficiaries will avoid mistakes and traps. Here are some of the more notable missteps, according to financial experts:

Taking too much out: Retirees eager to start spending their savings may get too aggressive with withdrawals, said Tom Holmes of the Holmes Financial Group in Woodland Park, author of "Plan to Retire on Full Pay." Five percent is about the most you should take out each year, he said.

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Take Time to Manage Ira to Avoid Costly Missteps

"The biggest risk we are seeing today is people are running out of money in their retirement funds," he said.

- Not taking the Requ...

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