In today’s episode, we delve into a critical aspect of retirement planning that can significantly impact your financial future – Required Minimum Distributions (RMDs). Whether you’ve stashed your savings in a 401(k), 403(b), 457, IRA, SEP IRA, or simple IRA, understanding RMDs is crucial, especially if you’re approaching your seventies.
The Inflation Reduction Act recently passed both houses of Congress and made a lot of headlines for what it’s supposed to accomplish. On today’s show, we’re talking about the bill and how it may or may not serve you, what it means from a tax standpoint and whether it will actually reduce inflation.
Today we’re answering some of your excellent financial questions. How much should you spend in retirement? When’s the best time to take Social Security? We’ll answer these questions and more on today’s show.