What You Need To Know Before Starting IRA Withdrawals

by | Mar 3, 2021 | Money Tips, One Minute Retirement Tip, Podcast, Retirement, YouTube

What You Need To Know Before Starting IRA Withdrawals

This week on The One Minute Retirement Tip Podcast, I’m talking about “What You Need To Know Before Starting IRA Withdrawals.

If you’re like most Americans, you have money invested in a 401k or a Traditional IRA account.

But what happens when you are required to start taking RMDs or required minimum distributions? What age do you need to start? How do you calculate your withdrawal? When’s the best time during the year to take your RMD?  Should you take it at the beginning of the year? The end of the year? Does it even matter? The answer to that may surprise you.

Perhaps more than anything else, I get lots of questions about RMDs as clients approach retirement. Making missteps is very common among people who take RMDs but don’t understand the rules, how to minimize taxes, or how to properly time their withdrawals each year.

So I’ll cover all of that and more on The One Minute Retirement Tip Podcast.

Topics covered:

When Do I Have To Start IRA Required Minimum Distributions?

How Much Do I Have To Withdraw From My IRA At Age 72?

The Best Time to Take Your RMD

How To Avoid Paying Taxes On Your Required Minimum Distributions

The Big Mistake You’re Making With Your IRA Distributions

To learn more about what you should do before taking IRA withdrawals, be sure to listen to this week’s intro episode and subscribe to the One Minute Retirement Tip wherever you listen to podcasts. 

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ABOUT THE AUTHOR

ASHLEY M. MICCICHE, QPFC®, CRPC®, CEXP®

Ashley helps business owners exit their business and retire with financial security. As a Certified Exit Planner she specializes in helping business owners navigate the maze of decisions that need to happen from full-time running their business to retirement.

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