Episode 51: "Common RMD Mistakes: What they Are & How to Avoid Them "

Building up your retirement savings takes decades of hard work, but one misstep with Required Minimum Distributions (RMDs) can lead to massive penalties. In today’s show, retirement experts Tom Mosley and Kristin Oakley share the most common RMD mistakes and how people make them. They also provide solid tips on steps you can take to avoid so you can protect your savings from costly errors and unnecessary taxes. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 Common RMD Mistakes – What They Are & How to Avoid Them 00:00 Overview of what RMDs are 15:15 How to estimate what your RMD Tax liability Could Be 17:43 Missing the RMD Deadline 23:30 Not Calculating the Correct Amount 31:24 Taking RMDs from the Wrong Account 37:14 Not Using RMDs Strategically in Tax Planning 44:17 Forgetting to Take RMDs After Spouse’s Death 48:04 Overlooking the Still Working Exception 50:45 Not Using RMDs for Charitable Contributions
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