A Safer Retirement and Environment – What We’re Implementing to Help Keep You Safe: READ MORE

Here at Chadmere Capital Inurance and Financial Services, we are adhering to state and local guidelines in order to protect both the health and safety of clients and staff. Keeping our clients and staff safe is our highest priority and we’re taking all appropriate measures to ensure a safe environment. Should you prefer to not meet face-to-face, we are continuing to serve our clients through virtual settings such as Zoom or phone calls.

We look forward to continuing to help individuals and families achieve their ideal retirements.

Chademere Capital Insurance and Financial Services
(803) 242-1050



By Andy Ives, CFP®, AIF®
IRA Analyst
Follow Us on Twitter: 


Hello Ed,

I have a question concerning Secure 2.0 pertaining to transferring “leftover” 529 plan account balances into a Roth IRA, beginning 2024. If I have no income in 2024, can I still transfer/contribute leftover 529 plan funds into a Roth IRA?  Thank you!




Only the beneficiary of the 529 (for example, the child for whom the 529 was created for) can receive the “leftover” 529 dollars into their own Roth IRA as a rollover. But there are limits. A lifetime maximum of $35,000 can be rolled over, the 529 must have been open for more than 15 years, and the annual rollover amount cannot exceed the annual IRA contribution limits. If you (Mark) are the beneficiary of this 529 but have no earned income, then you cannot roll any 529 funds into your own Roth IRA, because you are not eligible to contribute to an IRA (no income). If your child is the beneficiary of the 529, and if your child has earned income (i.e., is otherwise eligible to contribute to an IRA), then 529 dollars can be rolled into a Roth IRA for the child, despite you, as the parent, having no earned income.


I am currently 72 and already have several Roth IRA accounts. If I open a new Roth IRA today, will I need to wait 5 years to make an income-tax free withdrawal on the new account even though I have other established Roth accounts that have been in place for over 5 years?


No, you will not have to wait 5 years for tax-free withdrawals from the new Roth IRA. Since you are over age 59 ½, and since you have had another Roth IRA opened for more than 5 years, you have met your obligations to have immediate tax-free withdrawals from the new account. The IRS does not care if you have multiple Roth IRAs held at multiple custodians. All they see is one big Roth IRA bucket, your age, and your original Roth IRA start year from more than 5 years ago.


Ready To Take



For more information about any of our products and services, schedule a meeting today.

Or give us a call at (803) 242-1050

Investment advisory services offered through Foundations Investment Advisors, LLC (“Foundations”), an SEC registered investment adviser. Nothing on this website constitutes investment, legal or tax advice, nor that any performance data or any recommendation that any particular security, portfolio of securities, transaction, investment or planning strategy is suitable for any specific person. Personal investment advice can only be rendered after the engagement of Foundations, execution of required documentation, and receipt of required disclosures. Investments in securities involve the risk of loss. Any past performance is no guarantee of future results. Advisory services are only offered to clients or prospective clients where Foundations and its advisors are properly licensed or exempted. For more information, please go to https://adviserinfo.sec.gov and search by our firm name or by our CRD #175083.

 ADV Part 2A & Form CRS              Privacy Policy