What makes age 70 1/2 so significant?
Are you concerned about recent tax reform?
Required minimum distributions (RMDs) most commonly are taken from traditional Individual Retirement Accounts (IRA), workplace retirement plan accounts—401(k)/403(b)/457—or self-employed retirement plan accounts at the age of 70 1/2 for retirees. If you’re at or near retirement age, you’ll soon have to pay taxes on your IRAs and other tax-deferred savings accounts. Taxes on RMDs can be a major financial burden… unless you know how to protect yourself.
Learn simple strategies that could save you thousands! Everyone’s situation is different. It’s not too late for retirees in their 60s when withdrawals are penalty free, RMDs haven’t yet kicked in and disbursements are likely to be taxed at a lower rate because the recipient is no longer working. Join us to learn more!
Some topics we will discuss:
How to calculate your required amount and its tax liability
If your beneficiaries are set up for maximum tax efficiency
Strategies retirees should consider when they DO NOT NEED their RMDs
If your asset allocation and withdrawal strategies are appropriate for RMDs
When you have to take your RMDs, and if there are any exceptions
How they can impact your Social Security
How new 2018 tax reform might impact you