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Securing your retirement income stream

July 24, 2023

Insights from Joseph Patrick Roop, founder of Belmont Capital Advisors

Step into the fascinating world of investment, and you’ll quickly encounter a name that shines brighter than the rest: Joseph Patrick Roop, also known as JoePat. With a career spanning over two decades, JoePat has effortlessly carved his way to greatness, establishing himself as an industry icon. At the helm of Belmont Capital Advisors, he embarks on a noble mission to uplift his clients, equipping them with the tools and knowledge necessary to navigate the intricate landscape of finance, shaping a future brimming with prosperity and finding profound fulfillment in their investment endeavors, as well as preparing them for the future.

Read more: 
https://www.digitaljournal.com/business/securing-your-retirement-income-stream-insights-from-joseph-patrick-roop-founder-of-belmont-capital-advisors/article#ixzz88LIXd4WU

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The IRS has released new rules for beneficiaries of inherited IRAs that will take effect in 2025. These changes clarify the controversial "10-year rule," requiring most beneficiaries to fully withdraw the IRA within 10 years, with some facing mandatory annual distributions if the original account holder had begun taking RMDs before passing away. This marks a significant shift from the previous ability to "stretch" distributions over a lifetime. In this post, we'll break down the new rules, highlight important exceptions, and offer tips on how to best navigate these changes to avoid costly tax mistakes.
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