A Complete Guide To Required Minimum Distributions

How do required minimum distributions work? What is the required
minimum distribution age? Should you take RMD from traditional iras, simple iras, sep iras, pre-tax 401k, or roth 401k?

In today’s video, we are going to talk about Required Minimum
Distributions.

What they are? How they work? What can you do with
them? At the end of this video, you’ll get to know which RMD Strategy
is best for you and how to get the maximum out of your Tax Planning in
retirement.

Learn the tips & strategies to create your secure retirement.

⏰ TIMESTAMPS
00:00 - Introduction
1:03 - RMD Age
2:03 - Understanding Your RMD
4:47 - How Are RMDs Taxed?
6:11 - 401(k)s, 403(b)s, etc..
6:58 - Inherited IRAs! (Yes, RMDs apply!)
8:31 - RMD Calculators
9:51 - Inherited Roth IRA
11:51 - Tax Planning
14:31 - Eligible Designated Beneficiary
16:58 - Charitable Giving Strategies
18:45 - RMD Strategy (looking forward)
19:39 - Resources & More!
20:08 - Work With Us

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For more resources and content, check us out below!

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[muhammedkhasru]

The best explanation I ever heard. I wish I knew this channel before. So far every financial advisor I had wanted to line their own pockets first. Thanks.

[thomasralabate]

I am going to share this video. I turn 72 in 2022, perfect timing. Excellent!

[tracychen]

Great! Clearly explained how the RMD works, it helped me to learn what % I will need to withdraw for RMD. Thanks

[PorscheSpeedster-kznc]

This was helpful. I was planning Roth Conversions but then I inherited an IRA and had to replan the next 10 years to deplete the inherited IRA to minimize taxes. Needs less to say, I plan to deplete 75% of it in the next 3 years while taxes tables are more favorable based on my projected income.

[wvirishrover]

Very helpful. Who knew that saving money would be so costly? I gave most of my distribution to charities since Covid eliminated much of the travel on which we used to spend the money. They need the help, and the government doesn't get the money.... win, win!

[archiestanton]

Beneficiary alert: If you inherit an IRA, DO NOT take immediate possession of it (and maybe put it in a bank or brokerage account.) If you do, you'll have to pay the entire income tax on the entire IRA all at once. Instead, you want your custodian (ie. bank, brokerage, etc.) to TRANSFER the entire beneficiary IRA to you in your name. This way you put yourself in a position to follow the rules covered in this video.

[pumpkin]

Complicated, confusing subject explained clearly.

[chgone]

Thanks for providing important information. I found it very helpful. I would like to suggest that you write inserted texts in small letters. Capital letter texts are hard to read. Research has shown that all capital letters have a readability issue for many people. Thanks for your consideration.

[OhHeyJayJay]

Studying for my SIE, Series 7 top off etc. and I wanted to tell you this is some pretty great content. You framed this concentration very well and learned a great deal. Thanks!

[georgesims]

Thank you so much for this video. I need this info so much and have no one to consult. Bless you.

[tomgeoghegan]

Love this channel. Easily understood and excellent information!

[bradleys]

Thank you very thorough. But one aspect of RMD that didn't get covered was how to aggregate the RMD requirement from one account rather than take an RMD from every individual account. My question: can Roth IRA(s) be aggregated with Traditional IRA(s) and make a single distribution from a Roth IRA? I assume not, since that would seem to skirt the IRS intent to reclaim taxes on the original contributions to the Traditional IRA(s). But I haven't found that question specifically addressed. Thank you.

[kelly]

Thank you very much. It’s a very good explanation. This is funny we work hard throughout our lives now that we’re retired we have to think how we gonna spend our money because IRS wants us to withdraw more. 💰😂

[TheJustaz]

Great explanation. Very timely for me to review with my financial advisor.

[doncook]

Echo the gratitude others expressed. Can’t believe so few views on such an anxiety charged issue. I must assume the rest of the entire world has a financial planner and is in Mexico sipping margaritas with all their ducks in order

[elainethepain]

Great information! Also might add the option to disclaim a portion of an inherited IRA and designate your heirs to receive a portion of it (presuming you don't need it all)! Must be done within 9 months and the IRA must be intact and not touched or moved yet as well I believe!

[fshafly]

Ditto earlier comments on your clear and informative explanation. Thank you very much for taking time to educate the unwashed masses...

[fredwang]

Enjoy your channel so much, and give me all the information so that I can plan ahead. thank you 🙏

[jt]

Thanks so much for sharing your knowledge! The video is loaded with useful information. I just learned about things that apply to my situation watching your video. Just subscribed.

[markmyjak]

Please tell me why i should have a 401k. Remember all those years of getting tax breaks for contributing to your retirement? That's all deferred taxes. Now is the time pay. All these IRS rules is why don't have one. I have a stock portfolio of dividend paying stocks. It puts me in the 10-15% tax bracket.