Dear Fix My Portfolio, I retired from the U.S. Postal Service in 2004 and have a yearly pension from the Office of Personnel Management (OPM). I also work part time at a big hardware chain and have a...
Tag: rmds
Roth IRA Required Minimum Distributions (RMDs)
At some point, all individual retirement accounts (IRAs) must have their balances distributed to the account owner or the owner’s beneficiaries. This includes both Roth and traditional, A key differen...
Secure 2.0 Lets Retirees Delay RMDs. That Doesn’t Mean They Should.
Text size It’s worth doing the calculations to determine whether taking RMDs earlier may ease your tax bill. Dreamstime The Secure 2.0 Act gives savers 72 and under an extra year before you have to wi...
Your Required Minimum Distributions (RMDs) Have Officially Been Pushed Back
SECURE 2.0 Act Delays Start of Required Minimum Distributions (RMDs) The SECURE 2.0 Act, signed by President Biden in December 2022, includes dozens of changes to provisions related to tax-advantaged ...
Can I Harness the Bear Market to Cut My RMDs and Tax Bill?
I am currently in a 12% tax bracket and attempting to convert as much money as I can to a Roth individual retirement account (IRA) without going into the next bracket. I am trying to do this to reduce...
4 Strategies to Limit RMDs
strategies to limit rmds Saving for retirement is hard. It takes discipline, intelligence and likely a little bit of luck. You have to put money into your retirement fund consistently, make smart inve...
Year-End Changes To Lower Your Liability
Getty Images Key takeaways Tax season lies just around the corner, which means it’s time to seek those last-minute tax breaks While tax rates haven’t changed, each tax bracket (income range) has adjus...
When Taking RMDs, How Do I Avoid Locking in Losses? I’ll Be 72 Years Old Soon, and My Stocks Are ‘Way Down’ This Year
Ask an Advisor: When Taking RMDs, How Do I Avoid Locking in Losses? I’ll Be 72 Years Old Soon, and My Stocks Are ‘Way Down’ This Year I will be 72 years old on Feb. 10, 2023. I have ...
Here’s the One-Word Secret to Lowering the Tax Hit on your IRA RMDs
Everybody hates being told what to do, and retirement investors hate it even more when being told what to do comes with a hefty tax bill – which brings us to the IRS rule known as required minimum wit...
RMDs Will Be a Heavy Lift for Those Who Delayed Them
Retirees who have postponed taking this year’s required minimumdistributions (RMDs) from their 401(k)s and individual retirement accounts face a bitter task before year-end: withdrawing assets when po...
How RMDs Could Change With New Bill
rmd later start A new law may soon allow retirees to keep their money untouched a bit longer. The Securing a Strong Retirement Act, a bill originally pushed in 2021 but which may finally pass this yea...
5 Common Questions About RMDs in Retirement
Required minimum distributions have been in the news lately as Congress works to pass the Secure Act 2.0, which would raise the age at which seniors must begin making withdrawals from employer-sponsor...
You’re One Step Closer to Being Able to Delay Your RMDs in Retirement
SmartAsset: You’re One Step Closer to Being Able to Delay Your RMDs in Retirement A bill is headed for consideration by the full Senate that would move the age at which you have to start drawing...
Senate Advances Bill to Raise Age for RMDs to 75
Text size Savers can wait longer to begin emptying retirement accounts under pending legislation. Eric Lee/Bloomberg The Senate Finance Committee advanced a bill on Wednesday that would raise the age ...
Taking RMDs During a Downturn Hurts. Here’s How to Manage the Pain.
Is it better to rip off a bandage and get the pain over with or to remove it slowly and gently, limiting the pain while prolonging it? That’s essentially the question facing seniors who have spent dec...
Which Of These Two Tax Tricks Is Better For A Retiree?
In a low-bracket year you could have either a long-term gain or a Roth conversion. One will save you more money. Delaware Senator William Roth (1921-2003), fan of post-tax IRAs (Photo by Wally McNamee...
RMDs May Soon Start Even Later for Retirement Plan Savers
rmd later start Investors may soon be able to preserve their retirement war chest for longer. The Securing a Strong Retirement Act, a bill originally pushed in 2021 but which may finally pass this yea...
Opinion: What’s the best way to take RMDs from retirement funds? Experts rate 3 options.
I’m a retired educator, and I’m just turning 72. I’m about to start taking my required minimum distributions. I don’t need the full amount, but I guess I have to take it anyway. I don’t know when the ...