If you were born in or around 1950. Having been a serious retirement saver up to this point, you may have been surprised when you learned the time has come for you to
experience RMDs — Required Minimum Distributions.
RMDs are mandatory withdrawals from qualified retirement plans, generally (but not always) triggered in the year you turn 70½.
Like most things relative to your money and taxes, it’s important that you understand the rules governing RMDs.
And there’s another aspect of RMDs that also deserves your serious attention.
If you only get one thing out of reading this guide, it should be this: Your financial future – and the financial future of those you love – can be either enhanced or diminished by what you do with RMDs. It’s smart to consider the best use of the funds you are being forced to take out – instead of simply depositing the RMDs into a bank account.
Yes, you’re being forced to take out a specific sum of money, but what to do
with it is up to you—and we’ll dig into some very smart solutions to that
question in the RMD booklet.
But first, it’s important to consider your financial goals. So take a moment now to think about your 70th and 71st birthdays – and all the ones that come after them – all golden opportunities to achieve financial goals. We’re talking about the goals you hold in high regard at this point in your life. For many people, this list will include:
• Legacy planning – leveraging the amount of money left to one’s heirs
• Never running out of money – by increasing lifelong guaranteed income
• Having a way to pay for long-term care and to fund dependency if care is
needed. Avoiding erosion due to estate taxes or other taxes.
Who would’ve thought that RMD disbursements would allow you to make some very smart, strategic financial decisions?
We call this the RMD Challenge. Join us as we explore together how your
financial future can benefit when you meet the RMD Challenge! Request a free copy of the RMD Guidebook to learn all of this and much more!