Required minimum distributions (RMDs) are the minimum amount that you are required to withdraw from certain types of retirement accounts each year once you reach a certain age. RMDs apply to traditional individual retirement accounts (IRAs) and 401(k) plans, as well as other types of retirement accounts that allow you to defer paying taxes on your contributions and earnings until you withdraw the money in retirement.
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In spite of two divorces, two bankruptcies, and one short sale, I have been able to somehow amass about $500,000. I am going to retire at the end of this year at 66. I already started taking SS, and h...
June in Washington State is 62 with $2.5 million saved and a $350,000 pension on the table. Should she take the lump sum or the monthly check for life? Spoiler alert: there's a 3-to-1 vote in the stud...
I 60F wish to retire sometime this year. I have the financial ability but have some complex moving parts. Under consideration is using some Roth money to keep my MAGI low enough to get an ACA premium ...
Today on Your Money, Your Wealth® podcast number 580, Joe Anderson, CFP®, and Big Al Clopine, CPA, are spitballing for some folks who've done the work, hit the numbers, but aren’t sure if they can rea...
Saving into Roth instead of traditional accounts to bring down required minimum distributions in retirement, and whether retiring early is in the cards: that's today on Your Money, Your Wealth® podcas...
I always put the maximum amount allowed into my 401K. Now I realize that I will be paying high taxes when I need to take RMDs. Now I realize how much lower my taxes would be if I only lived off of qua...
Don’t let mandatory distributions catch you off guard. Test your RMD knowledge and discover strategies to maximize your retirement income today.
If I understand this correctly, with the upcoming tax deduction in the Big Beautiful (Ugly grrr) Bill, we have a few years where your adjusted gross income may drop you down to a lower tax bracket, or...
[Long] This might be one of those “Shut up, good problem to have” things, but I honestly don’t have a grip on it. I’ve been retired for 2.5 years and in 6 months, I’ll claim Social Security when I hit...
Answering listener questions about how they can make smarter use of Roth accounts and tax-efficient retirement strategies and how they can think about reducing future RMDs. The post Roth Conversions f...
I just turned 65 so I will not have to start taking RMDs until I'm 75. Since IRMAA is based on income from 2 years prior, that means I won't get hit with IRMAA until I'm 77 (2 years after my RMDs star...
Explore how meaningful travel experiences, storytelling, and thoughtful planning can enhance your retirement journey. In this episode, Roger answers listener questions on managing retirement accounts,...
Hi everyone! My husband and I were having a fun conversation about what to do with our RMD dollars when they start coming in (we are 5 years out so it’s just a fun question, not advice). We both love ...
I am mostly a D.I.Y. investor at age 62 and with retirement on the horizon, I am trying to plan as much of that as I can. I do not have a date in mind, although as it relates to SS benefits, I would l...
If you convert to a Roth today, could Congress change the rules tomorrow — and should that fear stop you from taking action? In this episode, you'll learn: The truth about retroactive Roth taxation Wh...
Juan and Mary in Brooklyn are 49 and 48 with $2.2 million saved. Can Juan afford to retire early, or just walk away if he gets fired? And if they get divorced, yikes - but does the math still work? Th...
If you miss your RMDs, you could face a hefty fine. Here are four ways to stay on top of your payments — and on the right side of the IRS.
Roger Whitney wraps up the four-part series on navigating health care before Medicare by introducing a practical decision-making framework using the OODA Loop—observe, orient, decide, act—to help you ...
Jeremy Keil explains the 5 RMD (Required Minimum Distribution) mistakes in Retirement and how to avoid them. A retiree recently called for help. It was their first year taking Required Minimum Distrib...
Retiring after age 65 changes the math and the priorities. You have fewer high-energy years, shorter tax planning windows, and RMDs much closer than most people realize. But you also often have higher...
FROM THE ARTICLE. From RMDs to longevity risk, these concepts shape how long your savings last. By David Hochman, AARP. Published January 13, 2026. Most of us have spent decades earning paychecks, jug...
Could a counterintuitive tax move today potentially lead to thousands in savings — or an unexpected tax trap tomorrow? In this episode, we discuss: Why some retirees intentionally harvest capital gain...
Jeremy Keil explains the top 3 tax efficient strategies for charitable giving in 2025. Most people give to charity because it’s meaningful to them — not because of the tax break. And that’s the right ...
Roth conversions can save thousands in taxes, but they can also trigger Medicare IRMAA surcharges that quietly add up to more than $5,000 a year. Most retirees never see it coming, because the rules f...
Jeremy Keil explores 7 money moves you can consider before the new year to lower your taxes and keep more of your money in retirement. Every December, people scramble to finish holiday shopping, trave...
Think waiting until 70 is the gold standard for Social Security? We dig into the real math behind delayed retirement credits and the hidden trade-offs that rarely make it into the headlines. Drawing o...
A year-end personal finance guide covering RMD deadlines, Roth conversions, HSA, contribution strategies, and key tax-saving steps to complete by December 31.
? Show Notes In this episode, Roger Whitney dives into the essentials of required minimum distributions, explaining the age thresholds, how the amounts are calculated using IRS life expectancy tables,...
Joe Anderson, CFP® and Big Al Clopine, CPA spitball withdrawal strategies, Roth conversion timing, and saving priorities for every stage of life, today on Your Money, Your Wealth® podcast numb...
Take our RMD quiz to test your retirement tax knowledge. Learn about RMD rules, IRS deadlines, and tax penalties that could shrink your savings....
The IRS will come knocking for its share of your tax-deferred retirement savings when you hit 73, but planning ahead for RMDs will ensure you're ready....
Proactively reviewing your health coverage, RMDs, and IRAs can lower retirement taxes in 2025 and 2026. Here’s how....
In this episode, Tammy asks about the pros and cons of doing Roth conversions in retirement to manage Required Minimum Distributions (RMDs) down the road. With $2.9 million in combined IRAs and curren...
In this episode, we tackle Kay's questions about managing her IRA and Roth accounts in retirement. With significant assets, no LTC insurance, and children in differing financial circumstances, Kay wan...
Today, we tackle a question many retirees face: Can you manage your taxes with DIY software like TurboTax, or is it time to bring in a professional? We'll explore the challenges of navigating tax comp...
John asks if taking larger IRA withdrawals beyond his RMD to fund his daughter's Roth IRA makes sense as a strategy to reduce future RMDs, lower estate taxes, and pass on tax-free assets. Although thi...
We ask financial experts for advice....
I'm planning to retire in 2 years with about $3 million in savings. The vast majority of this total is currently in tax deferred IRAs. Using the 4% rule, I expect to be withdrawing $120k annually, adj...
There's a penalty for failing to take required minimum distributions from retirement accounts. Fortunately, it's been reduced, and there's a way to further reduce it....
Are your Required Minimum Distributions (RMDs) setting you up for failure? Find out how sequence of returns risk combines with RMD rules to create a hidden hazard—and how smart planning, asset a...
Savers with accounts like 401(k)s and I.R.A.s are required to make withdrawals starting at a certain age. Here’s how to handle that during an unpredictable stock market....
Don't let required minimum distributions (RMDs) rain on your retirement parade....
Like many other individuals turning age 73, I have to make some tough decisions. What are my RMD options and which is the best for me?...
A little-known feature of RMD tax withholdings could help minimize a client's effective tax burden. Not all financial advisors are on board with the strategy....
When you've got to take required minimum distributions (RMDs) make some lemonade. Here are our top ideas for using the extra cash to enrich your life — or that of others....
The April 1, 2025, deadline for required minimum distributions (RMDs) is fast approaching for retirees who turned 73 in 2024....
The early months of the year are important for taxpayers ages 70½ and older who have traditional IRAs. The right planning moves can reduce taxes for the year....
In this episode, we tackle Kay's questions about managing her IRA and Roth accounts in retirement. With significant assets, no LTC insurance, and children in differing financial circumstances, Kay wan...
These seven milestone ages mark your eligibility for significant retirement benefits, including catch-up contributions and required actions, such as taking RMDs at age 73....
The year-end deadline for required minimum distributions is critical for many retirees....