Turning 73 this year? Then Required Minimum Distributions are about to become a major part of your financial life—whether you're ready or not.
I'm Tony Leonardi, CFP®, and in this episode of A Smarter Way to Retire, I'm breaking down everything you need to know about RMDs: what they are, when they start, how to calculate them, and the seven most common mistakes that can trigger a 25% penalty.
IN THIS EPISODE:
KEY TAKEAWAYS:
✓ RMDs start at age 73 for most people✓ Your first RMD can be delayed until April 1—but this usually backfires✓ You CAN aggregate IRAs but CANNOT aggregate 401(k)s✓ Missing an RMD triggers a 25% penalty (reduced to 10% if corrected within 2 years)✓ If you're age 60-72, this is your golden planning window
I've been helping families with retirement planning for over 30 years, and I've seen people lose thousands from simple RMD mistakes. The good news? They're all 100% avoidable.
RESOURCES MENTIONED:
COMING NEXT WEEK: Episode 2 - Advanced RMD Strategies: QCDs, tax planning, and how RMDs interact with Social Security and Medicare.
If you found this helpful, please rate and review the show. It helps other people find this information when they need it most.
Plan smart. Retire happy.
CONNECT WITH TONY:
DISCLAIMER: This podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Every individual's situation is unique. Please consult with a qualified financial advisor, CPA, and attorney before making any financial decisions. Tony Leonardi is a registered investment advisor. Full disclosures available at LeonardiFamilyWealthcare.com.
retirement planning, RMD, required minimum distributions, IRA, 401k, tax planning, financial planning, retirement mistakes, age 73, CFP, Tony Leonardi, Connecticut, retirement income, tax strategy
Business > Investing
