Episode Details

Are you over 55 and pondering retirement? Dive into the world of Required Minimum Distributions (RMDs) with us. In this episode, we demystify the reasons behind mandatory withdrawals from your retirement savings.

Discover strategies to potentially avoid them and understand the risks of not preparing in advance. And for those fortunate to not rely on RMDs for income, we'll explore impactful ways to utilize those funds.

Here are some of the things we’ll address in this episode:

• 2:21 – What is an RMD?
• 4:26 – Can I avoid RMDs?
• 7:34 – Risks of not planning
• 14:50 – Revisit your plan

IRS RMD table:

https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/UniformLifetimeTable.pdf

For more, visit us online: http://philstaxhacks.com

Watch the video podcast on YouTube: Phil's Tax Hacks and Other Retirement Facts