Investor Minute

Checklist: Let’s Review Your RMD Planning Opportunities and Avoid Penalties

There’s no time like the present to review your RMD (Required Minimum Distribution). You will have more options taking the time to review your planning opportunities now, than you will if you wait until the year’s end.

In our review, we will:

Consider whether your RMD is more than you need for your living expenses.
Review other retirement accounts you may have that are subject to RMDs and whether those RMDs need to be satisfied.
Verify your tax withholding to ensure it’s still accurate.

Whatever the case, it is important to review what you are doing with your RMD periodically. We can help guide you through this exercise, which may often feel like an inconvenience. When we work through how you’re taking your RMD, you’ll have a better understanding of your options and how they relate to the plan we’ve put in place.

To facilitate a productive discussion, our team has created this checklist to facilitate our work:

A short, one-page checklist that outlines nine considerations that are fundamental to your RMD strategy. Click here to access it.

While the checklist can help you spot good ways to identify all the different opportunities to consider, we are always available to meet with you to discuss your finances and goals and to identify what the best opportunities are for you.

Please contact us today to schedule a time to discuss this further, or click here to schedule a time with us on our calendar here