How to Cut Taxes on Your Retirement Withdrawals | RMD Rules Explained 🧾

Описание: As 2025 approaches, many retirees risk making costly mistakes with their Required Minimum Distributions (RMDs). Joel Garris of Nelson Financial Planning breaks down everything you need to know—from new age requirements to tax-efficient withdrawal strategies that keep more money in your pocket.

👉 Here’s what you’ll learn:
💰 What an RMD really is: The annual minimum amount you must withdraw from your IRA, 401(k), or similar retirement accounts once you hit the required age.
⚠️ The new 25% penalty explained: Why missing your RMD is so expensive—and how to make sure it never happens to you.
🧮 Updated RMD ages: The Secure Acts changed the game! Find out whether your starting age is 73 or 75, depending on when you were born.
🧾 Tax withholding made easy: How to set up automatic tax withholding from your RMD to avoid a surprise tax bill in April.
🙏 Charitable giving that saves taxes: Discover how Qualified Charitable Distributions (QCDs) let you donate directly from your IRA, lowering your taxable income.
💡 Roth conversions—are they worth it? Joel explains why converting to a Roth IRA might not always be the best move and how it can affect Social Security and Medicare costs.

Joel also clears up one of the biggest misconceptions: most retirees already meet their RMD requirements simply by taking income from their portfolios. So, don’t let fear or misinformation drive your decisions—make them with confidence and clarity.

Whether you’re newly retired or managing long-term investments, this episode gives you the knowledge to simplify your RMDs, minimize taxes, and stay in control of your money.

🎧 CHAPTERS
⏰ 00:00 – Year-end RMD reminder
📊 01:30 – What is a Required Minimum Distribution?
⚠️ 03:15 – The 25% penalty explained
🔢 05:20 – New RMD ages under SECURE 2.0
💵 07:10 – How to calculate your RMD amount
🧾 09:15 – Setting up tax withholding on your RMD
🙏 11:00 – Charitable giving through QCDs
💸 13:30 – Should you do a Roth conversion?
✅ 15:40 – Why most retirees are already in compliance
🎯 17:00 – Final thoughts and year-end checklist

Don’t wait until the last minute—plan your withdrawals the smart way. Schedule a free conversation with a Certified Financial Fiduciary today at NelsonFinancialPlanning.com
and make 2025 your most confident financial year yet! 🌟

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💵 About Dollars & Sense: 💵
Hosted by Joel Garris, a Certified Financial Planner and Fiduciary at Nelson Financial Planning, Dollars & Sense is one of Central Florida’s longest-running radio programs and a top 25 financial planning podcast. Each week, Joel and his team provide expert insights to help you make sense of all your financial decisions.

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👉 Visit our website: nelsonfinancialplanning.com for more resources and to connect with our team of Certified Financial Fiduciaries.

About Joel Garris:
Joel Garris is a Certified Financial Planner and Fiduciary at Nelson Financial Planning. He’s dedicated to providing comprehensive financial advice to help you achieve your retirement goals. With a team of expert advisors, Nelson Financial Planning is committed to delivering personalized and effective retirement and financial planning solutions.

➡️ CONNECT WITH US:
Website: nelsonfinancialplanning.com
Facebook:   / nelsonfinancialplanning  
Twitter: https://x.com/nelsonfinplan
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