Are you confused about Required Minimum Distributions and how to manage them effectively in retirement? In this episode of the Ask Ralph Podcast, host Ralph Estep Jr. addresses the most common problems retirees face regarding RMDs, such as heavy tax penalties for non-compliance and uncertainty around minimizing taxes. Tune in to learn how to establish an RMD strategy that works for your unique situation, understand this crucial retirement planning element, and how to take control of your financial future.
https://www.askralphpodcast.com/
00:00 Episode Overview
00:21 Welcome To Tax Talk Thursday And Show Announcements
01:08 Bible Verse
01:31 What are RMDs(Required Minimum Distributions)?
02:17 Reaching The Age of 73
03:29 Penalties
04:06 Recent Changes in RMDs
05:16 Strategy #1: withdraw more than the minimum
05:38 Strategy #2: qualified charitable distributions
06:28 Strategy #3: explore of Roth conversions.
07:05 Strategy #4: Get help with a financial advisor
07:37 Recap
08:26 Outro
