))
RMDs Explained: How, When & Why They Matter
Manage episode 479856456 series 3418897
Content provided by Chris Galeski. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Chris Galeski or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
On this week's episode of THE FINANCIAL COMMUTE, Financial Planning Advisor Brittany Yudkowsky joins Chris to talk about RMD planning.
• Required Minimum Distributions (RMDs) must start by age 73.
• Strategies like Roth conversions can be used before reaching RMD age to reduce future taxable distributions.
• After age 70½, individuals can donate up to $108,000 (2025 limit) directly from their IRA to charity, reducing taxable income.
• Making large contributions to a donor-advised fund in high-income years can offset the tax impact of RMDs or Roth conversions.
• In the first year, you can delay your RMD until April 1 of the following year — but that means taking two RMDs in one year, possibly increasing taxes.
• If still working and participating in a 401(k) (and not a 5%+ owner of the company), you may be able to delay RMDs from that plan — but not from IRAs.
• If the RMD isn't needed for living expenses, options include reinvesting it in a trust account, using it for charitable giving, or funding experiences.
• You can take RMDs monthly, quarterly, or at the end of the year; spreading them out can ease market timing risks and prevent last-minute errors.
136 episodes
Share
