Understanding RMDs in Retirement

There are a lot of timelines to be aware of in retirement, but none may be more important than that of your 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗱 𝗺𝗶𝗻𝗶𝗺𝘂𝗺 𝗱𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻𝘀 (𝗥𝗠𝗗𝘀). 👀
RMDs are a 𝘁𝗼𝗼𝗹 𝘂𝘁𝗶𝗹𝗶𝘇𝗲𝗱 𝗯𝘆 𝘁𝗵𝗲 𝗴𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝘁𝗼 𝗳𝗼𝗿𝗰𝗲 𝘄𝗶𝘁𝗵𝗱𝗿𝗮𝘄𝗮𝗹𝘀 𝗼𝘂𝘁 𝗼𝗳 𝘆𝗼𝘂𝗿 𝗾𝘂𝗮𝗹𝗶𝗳𝗶𝗲𝗱 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝘀 such as a traditional IRA, 401(k), or 403(b). They do this so that they can collect the tax dollars they so graciously allowed you to differ until later.
Not staying on top of this and other important dates in retirement can result in 𝗰𝗼𝘀𝘁𝗹𝘆 𝗽𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀, so make sure to sit down with a financial professional to get a strategy in place! 👥
If you have specific questions you would like to address with Kristina, Rob, or the team at Powerful Legacy, LLC directly? Book a complimentary visit here 👇
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