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Season 9

What to Know About Required Minimum Distributions From Retirement Plans

Episode Notes

The rules for RMDs have changed and you will want to know how much you must take out of your retirement plans and when. We explain it all on this episode of Friends Talk Money, including year-end advice.

Calculating your RMD | Terry Savage
Charity Contributions from IRA RMD | Terry Savage
Financial Planning for Retirement | Pam Krueger, Wealthramp.com

Required Minimum Distributions:

Age 73: Must Take RMD before year-end from all plans except Roth
Pay Ordinary Income Taxes (consider withholding)
Based on Balance in All Accounts Year-end Previous Year
Calculate online at IRA custodian
Input age and last year-end account value, spouse age
Withdraw from one or several accounts
40l(k) accounts require separate RMD

Recent Podcasts

Season 10

A Conversation With The Man Who Invented Your 401(K)

Show Episode Notes

Our next special guest has undeniably made the most significant impact on your retirement savings strategy. In this episode, the Friends Talk Money team sits down with Ted Benna, the father of the 401(k) plan. Ted shares the fascinating story of how he conceived this groundbreaking idea, navigated the IRS approval process, and gives us a glimpse into his current projects.