Don’t be Rattled by RMDs, Ep #372

Are you feeling rattled by Required Minimum Distributions (RMDs)? We’re here to help. Today we get deep into managing RMDs as we explore an article by Pam Krueger from Kiplinger’s. I outline the complexities of RMDs, share strategies to minimize tax impacts, and talk about how to craft a "perfect RMD" strategy. Plus, I’ll dig into why so many retirement podcasters, myself included, have no plans to retire themselves.

We kick things off by understanding the basics of RMDs, including when and how retirees must start withdrawing funds from tax-deferred accounts like IRAs and 401(k)s. I share exactly how the timing of RMDs, starting at age 73 (or potentially later under new laws), can have huge tax implications. I also detail strategies to minimize taxes through Qualified Charitable Distributions (QCDs) and preemptive withdrawals.

And of course, co-host Bret Mulvaney and I respond to a listener's intriguing question: why don’t retirement podcasters retire? 

Outline of This Episode

• [00:22] Tax Month and RMDs Overview
• [02:10] Age Changes and Future Implications
• [08:00] Strategies for a “Perfect RMD”
• [16:10] Why Retirement Podcasters Don’t Retire
• [21:30] Life Fulfillment through Financial Planning

Resources & People Mentioned

• The Retirement Podcast Network
• Kiplinger’s article by Pam Kruger: “Rattled by RMDs? Look No Further.”
• Retirement Starts Today Tax Tool: retirementstartstoday.com/tax
• Secure 2.0 Act details

Connect with Pam Krueger

• https://www.kiplinger.com/author/pam-krueger

Connect with Benjamin Brandt

• Become a Client: www.retirementstartstoday.com/start
• Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/
• Follow Ben on Twitter: https://twitter.com/retiremeasap
• Join the newsletter: https://retirementstartstodayradio.com/newsletter
• Dive deeper into retirement planning with Ben at www.RetirementIncome.University

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