Episode 37: "Everything You Wanted to Know About RMDs"

What is an RMD? An RMD, or Required Minimum Distribution, is the amount you must withdraw from your retirement qualified plan accounts each year after turning 73 (as of now!). While the letters might seem simple, RMDs themselves are anything but! In today’s show, retirement planning experts Tom Mosley and Kristin Oakley dive deep into the complexities of RMDs, answering all the questions you’ve been too afraid to ask. Understanding the ins and outs of RMDs and the ever-changing rules surrounding them is crucial – you don't want to face those massive IRS penalties 😥. Tom and Kristin help clarify: ✅What RMDs are ✅How RMD calculations are made ✅What to do if you have multiple retirement accounts ✅Planning strategies for RMDs ✅Why updating your beneficiary information is vital!
Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 Everything You Wanted to Know About RMDs – but were afraid to ask 02:34 What RMDs are – simplified 04:20 Retirement Accounts that are affected by RMDs 06:05 ROTH IRAs do not have RMDs 08:32 RMD Calculations 14:33 The Exception for the first year to take out your RMD. 17:05 What you must do if you have multiple Retirement Accounts. 18:53 What to do with your 401Ks/403b/457 if you have those. 20:15 The Penalties you incur for taking them out late. 28:35 How RMD rules apply to Inherited IRAs 32:50 Planning ideas for RMDs 39:12 Listener Question: Do my family members automatically inherit my IRA’s? 50:41 How to secure help with your RMD planning and distributions. Have specific questions for Tom and the team at Mosley Wealth Management? Contact us here 👇 https://mosleywealthmanagement.com/contact/ ============================================== If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄! https://www.youtube.com/channel/UCPMvD3G1cZA1Kz4CKnwynhA?sub_confirmation=1 ============================================== ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀⭐ - Facebook: https://www.facebook.com/mosleyeaseintoretirement - Instagram: https://www.instagram.com/easeintoretirement/ - LinkedIn: https://www.linkedin.com/company/mosley-wealth-management Learn the key components you need to include in your retirement plan, check this video out: https://youtu.be/QkJzvbZ_gDs #RMDs #RetirementIncome #RetirementPlanning #RetirementStrategy #FinancialEducation #FinancialLiteracy #HowToRetireEarly #RetirementPlanningAt50 #RetirementPlanningAt60 #HowMuchDoINeedToRetire #HowToRetireEarly #RetirementPlanningTips #FinancialAdvisor #SocialSecurity
DISCLOSURE: Investment advisory services offered by duly registered individuals through Mosley Wealth Management, Inc. (“MWM”). MWM and Mosley Insurance and Financial Services are affiliated companies by common ownership. License # 0K76766 Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income, generally referred to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength claims paying abilities of the issuing carrier. This content is intended for informational & educational purposes only. It is not intended to be used as the sole basis for financial decisions nor should it be construed as advice designed to meet the needs of an individual situation. All hypothetical examples are provided for illustrative purposes only; they do not represent real life scenarios. Mosley Insurance & Financial Services nor its agents or representatives may not give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any investment decisions. Our firm is not affiliated with or endorsed by the US government or any governmental agency. Some of the information provided may be from one or more third parties which we believe to be reliable sources, but accuracy and completeness cannot be guaranteed by Mosley Insurance & Financial Services.

For more information, visit:...