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Money Girl

6 Required Minimum Distribution (RMD) Retirement Rules You Should Know

Money Girl

Macmillan Holdings, LLC

Investing, Education, Business, Entrepreneurship, How To

4.61.8K Ratings

🗓️ 30 October 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

Laura reviews six RMD rules you should know and factor into your retirement planning.

Transcript

Click on a timestamp to play from that location

0:00.0

If you want to become wealthy, an essential habit you should create is regularly investing

0:10.2

a portion of your income in a tax advantage retirement account.

0:14.2

You hear me talk about that so much on this show.

0:17.2

And you may have an excellent option at work, like a 401k or 403b. But if not, there are individual retirement accounts or IRAs and self-employed

0:27.8

retirement plans that you can open and contribute to on your own. The years you have to invest money for the future is called

0:35.4

the accumulation phase. But at some point you're going to want to take money out of

0:41.4

those accounts or maybe be forced to take it out in some cases, which is the

0:46.0

withdrawal phase of life.

0:48.7

This podcast will review the rules for taking required minimum distributions or RMDs. I'll review six rules you should know and factor into your retirement planning no matter your age.

1:01.6

Welcome back everyone.

1:03.0

I really appreciate you joining me for Money Girl episode 874.

1:08.0

I'm Laura Adams, an award-winning author.

1:11.0

I'm a finance spokesperson, a money speaker, a founder of The Money Stack

1:16.0

which is a sub-stack newsletter and I'm host of this podcast with over 43 million

1:21.2

downloads. If you're new here I want to welcome you and if you've

1:25.2

been with me for a while and you're getting value from the free content here

1:28.9

please subscribe and consider submitting a five-star rating or review and as always if you have a question about money or a comment leave it on our

1:37.7

voicemail at 302 3640 3408 you can also send me an email and sign up for the free money stag newsletter at

1:47.3

Laura D Adams.com.

1:50.8

So we talk a lot about RMDs or required minimum distributions when we talk about retirement

1:56.3

accounts and basically they're just an annual minimum amount that you must withdraw from certain accounts starting the year you reach

2:05.2

age 73 or it will be 75 starting in 2033 and they continue for your entire life or until an account gets depleted.

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