South Carolina Business Review

IRS Issues Final Guidance on distribution rules for Inherited IRAs

By Mike Switzer

Published September 17, 2024 at 6:30 AM EDT

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Garet Strange, certified financial planner with Hobbs Group Advisors in Columbia, S.C.

It’s taken five years, but the IRS has finally issued new rules for those of you who want to take distributions from inherited IRAs. Mike Switzer interviews Garet Strange, a certified financial planner with Hobbs Group Advisors in Columbia, S.C.

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Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

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