In This Video:

There will come a time when every retiree will be required to withdraw money from their retirement accounts whether you’re ready to or not. Like other areas of your finances, these Required Minimum Distributions (RMDs) require proper planning to make sure you are taking the most efficient withdrawals from a tax standpoint. We’ll help you get a better idea of the approach we take and the strategies we use to help our clients lower taxes on their RMDs.

Things to Consider:

If you own an IRA, at age 72 you’ll need to start taking those Required Minimum Distributions, or forced income, out of the account to make and meet IRS requirements. If you are wondering how to help reduce the taxes on your Required Minimum Distributions (RMDs), you may want to consider a Qualified Charitable Distribution (QCD).

Every dollar that comes out of those accounts is going to get taxed at your ordinary income tax rate so you want to work with your advisor to reduce what you owe and keep more of what you’ve earned.

Today we are going to talk about how you can use the QCD strategy to help reduce your taxes on your Required Minimum Distributions or RMDs.

0:00 – Intro
0:23 – Who Sierens Financial Group is and how we can serve you.
0:58 – An example of how you can utilize the QCD to reduce taxes on RMDs.
5:36 – A few requirements you should be aware of to utilize this strategy.

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