What are 5 common RMD mistakes to avoid?

Are you making costly mistakes with your Required Minimum Distributions (RMDs)? In this episode of The Ask Ralph Show, Ralph Estep Jr. uncovers the 5 Common RMD Mistakes that could lead to penalties and lost savings. Through real-life stories of clients who faced penalties as high as $50,000, Ralph explains how these mistakes could have been avoided. From forgotten accounts to missed deadlines, this episode is packed with practical tips to protect your retirement savings and reduce unnecessary stress. Tune in to learn the essential RMD mistakes to avoid!

https://www.askralphpodcast.com/RMD-mistakes-to-avoid/

Podcast Timestamps:
00:00 Episode Overview
00:50 Listener’s Question: Barbara’s Worry About RMD Mistakes
03:34 Bible Verse: Proverbs 15:22 – The Importance of Seeking Counsel
04:46 Common RMD Mistake #1: Forgotten Accounts
06:41 Common RMD Mistake #2: The Charity Confusion Catastrophe
09:02 Common RMD Mistake #3: The Inheritance Incident
10:44 Common RMD Mistake #4: The Multiple Account Miscalculation
12:18 Common RMD Mistake #5: The Deadline Disaster
14:18 Call to Action
16:06 Action Steps to Avoid These Costly RMD Mistakes #1: Create a Complete Retirement Account Inventory
16:54 Action Step #2: Set Up Automated Distribution Systems
18:25 Action Step #3: Build Your Professional Support Team
19:19 Action Step #4: Create a Distribution Calendar
20:06 Action Step #5: Implement a Consolidation Strategy
20:54 Bonus Action Step: Review Your Investment Strategy
22:30 Closing

Websites mentioned:
https://www.askralphpodcast.com/christmas
https://www.askralphpodcast.com/survey
https://www.askralphpodcast.com/required-minimum-distributions/
https://www.askralphpodcast.com/tax-time-bomb/

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