Keep an Eye on Your Retirement Accounts

Required Minimum Distributions (RMDs) are withdrawals from retirement accounts – mandated by the government – that begin once you reach a certain age. Planning for RMDs involves managing these distributions to minimize taxes and ensure your retirement savings last throughout your lifetime.

We are here to help you understand the rules regarding RMDs, and can keep you up to date as calculations and amount can change with each passing year. Failure to meet your RMDs can result in a penalty and we want to make sure you keep as much of your retirement savings as possible.

If you don’t necessarily need the money drawn via RMDs, we can also help you allocate funds into alternative accounts. While taxes may be incurred, this allows you to continue investing and growing your nest egg in vehicles that aren’t subject to future RMDs. Similarly, we can advise you on charitable avenues that can satisfy RMD requirements while lessening your taxes owed.

By implementing these strategies and staying proactive in managing your RMDs, you can optimize your retirement income and control over where your funds are held.