Fortunately, the Secure Act 2.0 softened the rules a bit. As of 2024, the penalty is reduced to 25% of the RMD. If you can ...

Social Security was the most common source of retirement income last year. But 81% of retirees had one or more types of ...

Required to take a 2025 required minimum distribution, but don’t need the funds? Consider taking it now and stashing it in a ...

From planning your withdrawal strategy ahead of time to utilizing a nontaxable qualified charitable distribution, these ...

1) In a few years I will have to take required minimum distributions (RMDs) from my traditional IRA (currently my only retirement account). I plan to work until age 80 or so. Will I be able to ...

Worried about taxes on huge RMDs? Consider this alternative to Roth conversions.

I plan to convert $100,000 a year to a Roth. I’m 59 and worried about Social Security and RMDs.

Here’s the Allworth Advice: When it comes to taking RMDs, it’s crucial you’re taking the correct amount and meeting the withdrawal deadline (typically Dec. 31).

As Christine Moriarty wrote in her Next Avenue article on year-end tax moves, the SECURE Act bumped the age to begin taking RMDs from 70½ to 72 starting in 2020. SECURE 2.0 pushed back the ...

Once you stop working, however, RMDs are required. Be careful: The punishment for failing to take an RMD during the required time period is a hefty one – up to 50% of the missed RMD amount.

In 2025, the Secure Act will be enacted after five years of delay, and beneficiaries will be required to pay RMDs for a traditional IRA if they inherited it from someone who was over 73.

Key Points Automating RMDs may be convenient, but it's not for everyone. If your financial situation is complex and your portfolio is stuffed full of different investment types, you may feel more ...