Understanding RMDs: A Guide For Retirees & The Soon-to-Retire

<p class="MsoNoSpacing"><span style="font-size: 14pt;">Are you over 55 and pondering retirement? Join us as we delve into the realm of Required Minimum Distributions (RMDs). Unfortunately, RMDs can be a tad bit confusing, so in today’s episode, Dave and Drue are here to unravel the mystery and ensure you have a clear understanding of the process.</span></p> <p class="MsoNoSpacing"><span style="font-size: 14pt;">Listen in as we break down the basics of RMDs and explain how they are calculated based on your age and account balance. We’ll also share strategies to potentially avoid them and share the risks of not preparing for them in advance. And for those fortunate to not rely on RMDs for income, we'll explore impactful ways to utilize those funds.</span></p> <p class="MsoNoSpacing"> </p> <p class="MsoNoSpacing"><span style= "font-size: 14pt;"><strong>Here’s some of what we discuss in this episode:</strong></span></p> <ul> <li class="MsoNoSpacing" style="font-size: 14pt;"><span style= "font-size: 14pt;">What are RMDs and why do they exist?</span></li> <li class="MsoNoSpacing" style="font-size: 14pt;"><span style= "font-size: 14pt;">When should you start planning for RMDs, and what actions can you take to reduce their impact on your tax liabilities?</span></li> <li class="MsoNoSpacing" style="font-size: 14pt;"><span style= "font-size: 14pt;">What are the risks associated with not planning for RMDs in advance?</span></li> <li class="MsoNoSpacing" style="font-size: 14pt;"><span style= "font-size: 14pt;">RMDs can be redirected to charitable organizations</span></li> </ul> <p> </p> <p><span style="font-size: 14pt;"><strong>Contact Dave and Drue: </strong></span></p> <p class="BodyA" style="margin-bottom: 0in; mso-pagination: none;"> <span style="font-size: 14pt;">Web: <a href= "https://www.truefinancialpartners.com/"><span style= "line-height: 107%; font-family: Arial, sans-serif;">https://www.truefinancialpartners.com/</span></a></span></p> <p class="BodyA" style="margin-bottom: 0in; mso-pagination: none;"> <span style