Use THESE Strategies to Pay Less in RMDs
In this video, we talk about RMDs, or required minimum distributions. At age 73, the IRS requires you to take out money from your tax-deferred investments such as your 401(k), IRA, or 403(b). The older you get, the more you have to take out, which can force you into a higher tax bracket and even impact your Medicare premiums. In this video, we show you how to calculate your RMDs and discuss strategies to reduce them, including Roth conversions and qualified charitable distributions. By doing so, you can lower your tax burden and have more control over your retirement income.
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https://www.kiplinger.com/retirement/retirement-plans/roth-iras/604539/i-love-roth-iras-and-roth-conversions
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#retirement #retirementplanning #requiredminimumdistribution
Timestamps:
00:00 What are required minimum distributions (RMDs)?
02:10 RMD calculator
Disclaimer: Since we do not know your specific situation, none of this information can serve as tax, legal, financial, insurance, or financial advice, and may be outdated or inaccurate. The information comes from sources believed to be reliable but cannot be guaranteed. This content is prepared for educational purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Peak Retirement Planning, Inc. is an Ohio based registered investment adviser and able to offer advisory services in Ohio and in other states where registered or exempt from registration.
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