RMD Workshop
About This Workshop
New Tax Laws and recent changes to qualified retirement accounts and IRS-mandated Required Minimum Distributions (RMDs) bring advantages and disadvantages. Some changes have the potential to be beneficial; however, you must make sure you are working with current and up‑to‑date information so you can help avoid costly mistakes.
As of 2023, the new law mandates you start taking RMDs from your qualified retirement accounts once you reach age 73. The new provisions can be complex, with unforgiving consequences. Make one small error, you and/or your heirs could be hit with severe penalties. This presentation will bring clarity to how the new changes impact your retirement and how to help avoid IRS problems.
Topics We’ll Cover Include:
- Provisions of the new SECURE 2.0 Act, just passed into law January 2023, that you must follow to be in compliance with the IRS
- How the age change and the timing for RMD withdrawals could affect you
- Whether Roth conversions make sense considering the latest changes
- Tax-saving strategies to offset additional taxes that could result from your RMDs
- How to help calculate your RMDs considering the new law
- How the changes to employee sponsored accounts and catch-up provisions could affect those near retirement
- Inflation is on the rise — What are the long-term effects of your dollar buying less? What are the consequences?
- Asset allocation strategies to help you avoid cannibalizing your principal when you are taking RMD distributions
