by Leah Woodly
Are you getting close to retirement or have you inherited a retirement account? Understanding Required Minimum Distributions (RMDs) is essential for managing your retirement savings and avoiding costly penalties.
In this video, we’ll break down everything you need to know about RMDs, including:
✅ What RMDs are and why they matter
✅ When you need to start taking RMDs
✅ How RMDs are calculated
✅ The rules for RMDs on inherited retirement accounts
✅ What happens if you miss an RMD
✅ Smart strategies for managing your RMDs effectively
We also dive into the special rules for inherited retirement accounts, so if you’ve recently inherited an IRA or 401(k), this information is crucial.
