First-Time RMD? What You Need to Know

Описание: If you’re turning 73 this year, you may have to take a required minimum distribution (RMD) for the very first time. RMDs are mandatory withdrawals from retirement accounts like traditional IRAs and 401(k)s that have never been taxed. While the rules may sound simple, the details can get tricky, especially if you’ve inherited an IRA. In this video, Liz explains how first-time RMDs work, how inherited IRAs create different rules for beneficiaries, and what to watch for with the IRS calculation tables.

She also walks through the 10-year rule for most inherited accounts and how the timeline changes if you inherit from someone who had already inherited themselves. Most importantly, Liz emphasizes that focusing only on the minimum may not be the smartest move. Instead, you should consider how much you can withdraw while staying in a lower tax bracket to minimize future tax costs. By planning ahead, you can send less to the IRS, keep more in your pocket, and stretch your retirement dollars further.

Here’s some of what we discuss in today’s show:

Age requirements for your first RMD withdrawal
Rules for inheritances and beneficiaries, including the 10-year clock
How to find your RMD number
Taking strategic and smart withdrawals at lower tax brackets
Keep more, pay less: strategies to reduce future IRS bills

0:00 – First RMD This Year
0:51 – Inherited IRAs
2:14 – Different Timelines
4:11 – How to Calculate Your RMD
5:22 – What is the Max I can Take?

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