Episode 121: A Strategy for RMDs

In this episode, we ask: What is a Required Minimum Distribution (RMDs)? What happened when you put your income into the deferred tax account? How will the tax be paid? When will the tax be paid? What is built into the Internal Revenue Code? When do Required Minimum Distributions become payable? What about age 70.5?...

In this episode, we ask:

What is a Required Minimum Distribution (RMDs)?
What happened when you put your income into the deferred tax account?
How will the tax be paid?
When will the tax be paid?
What is built into the Internal Revenue Code?
When do Required Minimum Distributions become payable?
What about age 70.5?
What about age 59.5?
What is this magical 11 year time zone?
Do you own a qualified plan?
When you can you withdraw funds?
What about penalties?
Have you heard about the 70.5 deadline?
A 50% penalty?! 50%?!
When do you think taxes will be higher?
What happens if you pass away with a qualified plan?
What does your partner have to do?
Would you like an example?
How does one calculate an RMD?
What is your life expectancy?
What is the balance of the account?
Are RMDs taxed at ordinary income tax rates?
Is your spouse 10 years younger than you?
Will RMDs force you into a higher tax bracket?
Will RMDs raise your Medicare premiums?
What if you have assets inside of your qualified accounts?
Will you have to sell your stocks?
Will you have to sell your real estate?
Does the RMD care?
What happens if you live past your life expectancy?
What happens if you need it for long term care?
What about the 4% rule?
How successful is the 4% rule?
What about 2.8%?
What about 6.5%?
Has the government updated their formula to reflect these new findings?
Will most run out of money?
What is the new SECURE ACT in congress?
What are some ideas to consider?
Are you in your mid to late 50s?
How much do you have that will be exposed to ordinary income tax?
Would you like protection from required minimum distributions?
Are there multiple accounts that you would like to consolidate?
How might you leave a substantial legacy for your children?
What about a life insurance policy?
Are today’s tax rates historically low?
How much will you be forced to take out of your retirement accounts?
How could you leave your family far more than you ever saved?
Would you like to view some example numbers? Note: this is only an example. To see your exact numbers, please contact us.
How might we help you with an RMD strategy? Hop on our calendar for a FREE 15 minute Introduction Phone Call
Do you own a Bank on Yourself® type policy? Do you believe that Bank on Yourself is a scam? Leave us a message and let us know your experience!