From The Retirement Nerds.
Required Minimum Distributions can be one of the most confusing parts of retirement planning — and getting them wrong can lead to unnecessary taxes, missed opportunities, and costly mistakes.
In this episode of The Retirement Nerds, I sit down with Zacc Call to talk about the truth about RMDs and what retirees need to understand about how they really work.
We cover when Required Minimum Distributions begin, how RMDs are calculated, how they affect your taxable income, and the common mistakes retirees make when taking money from retirement accounts. We also discuss how RMDs can impact retirement tax planning and why understanding the rules matters if you want to keep more of your money in retirement.
In this video, we discuss:
• What Required Minimum Distributions are
• When RMDs start
• How RMDs are calculated
• Common RMD mistakes retirees make
• How RMDs affect taxes in retirement
• Retirement planning strategies related to RMDs
RELATED VIDEOS:
CONNECTING WITH ZACC:
Phone: 801-566-5058
Email: Connect@CapitaMail.com
Website: CapitaFinancialNetwork.com
Your Best Financial Year: https://www.capitafinancialnetwork.com/your-best-financial-year#SIGNUP
Subscribe to The Retirement Nerds for more videos on retirement planning, Medicare, Social Security, taxes, and financial decisions that matter in retirement.
Check out our resources at https://TheRetirementNerds.com/
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Erik@TheRetirementNerds.com
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⏰ TIME CODES ⏰
0:00 Intro
1:16 RMD Definition
2:35 Accounts Subject to RMDs
3:35 Timelines
5:19 How Do They Make You?
12:37 Multiple IRAs and 401(k)s
18:45 How RMDs Calculated
21:50 Who Should Be Aware?
28:19 How Scary Are RMDs?
30:25 Suzy’s Example
41:40 Real Example: Paying off Home
44:34 Cancer Example
47:50 Inheritance Implications
49:49 Big Age Gap Between Spouses
52:02 Planning for RMDs
58:34 Account Growth Outpacing RMDs
1:01:10 QCD & DAF Clarifications
1:05:14 Final Message About RMDs
1:07:19 Question from the Comments
1:10:56 Where to Get Help
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#medicare #theretirementnerds #socialsecurity #retirementnerds #finance #RMDs #requiredminimumdistribution
Disclosure:
This podcast is intended for informational purposes only, and is not a substitute for personal advice from Capita. This is not a recommendation, offer, or solicitation to buy or sell any security. Past performance is not indicative of future results. There can be no assurance that investment objectives will be achieved.
Different types of investments involve varying degrees of risk, including the loss of money invested. Therefore it should not be assumed that future performance of any specific investment or investment strategy, including the investments or investment strategies recommended or proposed by Capita will be profitable. Further, Capita does not provide legal or tax advice. Please consult with your legal or tax professional for advice prior to implementing any strategies discussed during this podcast.
Certain information discussed during this podcast is based upon forward-looking statements, information and opinions, including descriptions of anticipated market changes and expectations of future activity. Capita believes that such statements, information and opinions are based upon reasonable estimates and assumptions. However, forward-looking statements, information and opinions are inherently uncertain and actual events or results may differ materially from those reflected in the forward-looking statements. Therefore, undue reliance should not be placed on such forward-looking statements, information, and opinions. Registration with the SEC does not imply a certain level of skill or training.
