Whether you’re preparing for retirement or already enjoying it, one thing remains true: You want to make the most of your income and protect it from unnecessary penalties. Sounds easier said than done, especially when required minimum distribution (RMD) rules change from time to time, and both RMDs and withdrawal strategies have tax consequences. We’re here to help simplify important details:
- Understanding how RMDs work.
- Avoiding tax penalties.
- Planning ahead for RMDs in your pre-RMD years.
- Inheriting an IRA―and the applicable tax implications.