Episode Resources: Tax Free Strategies in the Retirement Planning Success Course
RMD’s are forced distributions by the IRS on your retirement accounts. This can cause you to pay a lot more in taxes in retirement than you may have planned for.
When you reach age 70½, you’re required to withdraw a certain amount of money from your retirement accounts each year. That amount is called a required minimum distribution, or RMD.
RMD rules apply to tax-deferred retirement accounts:
Most small-business accounts
Most 401(k) and 403(b) plans
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