Rmds
Showing 25 results of 25
How to Optimize Your RMDs in Retirement
May 13 2024
No matter where you are in your financial journey, many options are available, including eliminating RMDs altogether through Roth conversions....
kiplinger.com
Funding RMDs - What to sell to generate the cash?
Apr 06 2024
I'm still a few years away from being required to withdraw from my IRAs. A big part of the dollars needed to satisfy the minimum RMD is being generated by dividends and interest. In the event that I n...
reddit.com
Listener Q&A: Lowering Taxes with IRA Conversions, Understanding RMDs & Gifting Strategies
Mar 27 2024
Check out the latest podcast episode on retirement planning and Social Security by listening on “Apple Podcasts” or “Spotify Podcasts” and watch more retirement planning videos...
keilfp.com
Buy a short-term rental in retirement?
Feb 25 2024
Hi, unfortunately I have RMDs coming up and it will boost my retirement income, increase taxes as well as trigger IRMAA. Any recommendations on how to reduce taxable income during retirement? POTENTIA...
reddit.com
Start to worry about RMDs now, or wait to be socked with taxes in my 70s?
Feb 02 2024
I am 60 years-old and retired. I have about $800k in [traditional] IRAs and about $700k in brokerage accounts. Should I start drawing on my IRA's now, or should I leave it to grow and draw from my aft...
reddit.com
Don't Overlook These New RMD Rules for 2024
Jan 26 2024
Learn about the 2024 guidelines related to required minimum distributions from qualified retirement accounts....
money.usnews.com
IRS Reminds Retirement Savers of RMD Deadlines, SECURE 2.0 Changes
Dec 24 2023
Those age 73 and older must make required withdrawals from retirement plans by Dec. 31...
401kspecialistmag.com
Forget your RMD? Here’s What to Do
Dec 20 2023
Photo credit: jb If you have an IRA that you have to take Required Minimum Distributions (RMDs) from, you need to do this every year by the end of the year. So what if you forget one year? The rule is...
financialducksinarow.com
Inherited IRA Required Minimum Distributions (RMDs)
Dec 09 2023
By Dr. Jim Dahle, WCI Founder Inherited IRA rules changed a few years ago, but Congress and the IRS did a terrible job of really communicating all of the new rules that occurred as a result of the SEC...
whitecoatinvestor.com
When should I start factoring in RMDs? In fact, I know nothing about RMDs.
Nov 11 2023
At what age do Required Minimum Distributions kick in? (I'm 67 now.) What kinds of accounts do they apply to? I have a mix of Roth and conventional IRAs, 401k's, annuities, and some TIAA/CREF stuff, t...
reddit.com
Parent's RMD as income replacement/selling property to retire early
Oct 12 2023
Hello - pardon the throwaway. I've been pretty active in this sub under my other name, and I'm really apprehensive about asking this question. I just found out my company is being sold in Q1 24. I fee...
reddit.com
Looking Ahead to Year-End
Oct 09 2023
The end of the year will soon be upon us! Here’s a quick checklist of items to accomplish before we turn the calendar to 2024: Take your Required Minimum Distributions (RMDs) If you’re sch...
bossretirement.com
RMD Deadline Coming Soon for Some Seniors
Mar 17 2023
The IRS is reminding some seniors and retirees of an important required minimum distribution (RMD) deadline that is just a couple of weeks away....
kiplinger.com
Clarifying RMDs For An Inherited IRA
Feb 28 2023
Due to new laws and IRS waivers, taking required minimum distributions from an inherited IRA can bring a lot of questions....
forbes.com
Key RMD Changes In The SECURE Act 2.0 You Should Know
Feb 15 2023
The new law makes important changes in required minimum distributions for retirement accounts....
forbes.com
I forgot to take my RMD — now what?
Jan 20 2023
The penalty for missing a required minimum distribution is still one of the stiffest in the tax code....
marketwatch.com
New Rules Push Back RMD Start, Reduce Penalties
Jan 19 2023
January 20, 2023 — The end of the year presented several gifts to well off folks with substantial IRA, 401(k), or 403(b) balances. The biggest is that, thanks to the Secure 2.0 Act of 2022, the ...
topretirements.com
New Rules Push Back RMD Start, Reduce Penalties
Jan 19 2023
January 20, 2023 — The end of the year presented several gifts to well off folks with substantial IRA, 401(k), or 403(b) balances. The biggest is that, thanks to the Secure 2.0 Act of 2022, the ...
topretirements.com
The Days of IRS Forgiveness for RMD Mistakes May Soon Be Over
Jan 13 2023
Did you forget to take your RMD? You can beg forgiveness…but maybe not for much longer....
barrons.com
IRS: Required Minimum Distributions (RMDs)
Jan 07 2023
Review the required minimum distribution rules for certain retirement plans, including traditional IRAs, SEP IRAs, SIMPLE IRAs and 401(k) plans....
irs.gov
Creating Retirement Income: From RMDs to SWRs
Jan 03 2023
A reader recently asked the following question about retirement withdrawals: I am approaching 72, and for the life of me I do not know the difference between setting a safe withdrawal rate (SWR) and h...
caniretireyet.com
New RMD Ages in 2023 and 2033: Immediately See the Impact on Your Retirement Income and Taxes
Dec 30 2022
The NewRetirement Planner, the most user-powerful financial planning tool online, has been updated with the new Required Minimum Distribution (RMD) ages that became law last week when President Biden ...
newretirement.com
Big RMD Changes and 11 Other Retirement Planning Headlines from SECURE 2.0 and the Omnibus Spending Bill
Dec 22 2022
It has been said that nothing happens in Washington. However, if all goes according to plan, the Omnibus Spending Bill will pass with lots of sweeping legislation, including big changes almost immedia...
newretirement.com
6 Strategies to Manage Required Minimum Distributions (RMDs)
Dec 21 2022
Are RMDs desired income or a cost? Either way, preserve wealth with these 6 strategies for minimizing taxes on your withdrawals....
newretirement.com
Did You Hit Age 72 in 2022? Get Ready to Take Your RMD
Dec 03 2022
December 4, 2022 — Folks who were born in 1950 face their first Required Minimum Distributions (RMDs) from their IRAs and 401(k) type plans. The SECURE Act of a few years ago fixed the age for R...
topretirements.com
Popular Topics
Filter content by these topic groups:
About Rmds
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.
The age at which you must begin taking RMDs is 70½ for most types of retirement accounts. If you do not take your RMDs as required, you may be subject to a penalty tax of 50% of the amount you should have withdrawn but did not.
RMDs are calculated based on your age and the balance of your retirement account as of December 31 of the previous year. The calculation takes into account your life expectancy and is intended to ensure that you eventually deplete your retirement account and pay taxes on the money you have saved.
It's important to understand the rules and requirements for RMDs, as failure to take them as required can result in significant penalties. It's a good idea to consult with a financial advisor or tax professional to understand how RMDs may affect you and to ensure that you are meeting your RMD requirements.