Ep 96: Are You Ignoring The Impact Of RMDs On Your Retirement?
Manage episode 358760067 series 2891513
Did you know the government is going to force you to take money out of some of your retirement accounts as you get older, even if you don’t want to? In today’s episode, we talk about what required minimum distributions are, why they exist and when they might start for you. Ignoring them could lead to major taxes issues down the road that might be difficult to overcome.
Here’s some of what you’ll learn on this episode:
- When you ignore RMDs and don’t properly plan for them, it could lead to unnecessary tax expenses in the future. 0:55
- What are RMDs? 4:31
- Why do we have to take these RMDs and when do they start? 7:20
- The potential tax risks of ignoring RMDs. 10:07
- Is there anything you can do to avoid having to take these RMDs? 17:49
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ