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Making Sense of RMDs

October 17, 2022

Every year, many questions surround RMDs (required minimum distributions). Simply put, an RMD is an amount you must take out of your traditional retirement savings plan to avoid tax penalties once you’ve reached the mandatory age for making withdrawals. However, determining the amount and from which accounts can become complicated, especially if you are going through a divorce or have an inherited IRA.

Brian Pitell, Founder and Investment Advisor Representative, created a series of videos to share, “What You Should Know About RMDs,” and to simplify them for you. The first video explains an RMD and which retirement accounts require a distribution.

Part One: Making Sense of RMD’s

The good news is that you do not have to determine your RMD alone. Your Financial Advisor can help you identify your yearly RMD amount through this process. They can also complete a financial plan to determine how long your retirement assets will last, knowing that you’re required to make these distributions, adjust your portfolio, or consolidate your retirement accounts to help make RMDs easier.

Contact us if you have any questions, and let us help you plan for your future!