195. What You Need to Know About RMDs in 2025
Most retirees don’t realize it, but RMDs aren’t just mandatory—they can be a tax time bomb waiting to happen. Without planning, they could push you into a higher tax bracket, costing you more in taxes than expected. Today, we break down the latest RMD rules, penalties, and tax strategies to help you keep more of your money in retirement. We also walk through a hypothetical case study featuring Paul, a 57-year-old with a $1 million IRA. We compare two scenarios for Paul at his RMD age of 75: 🔹 Scenario 1: Paul does no tax planning, allowing his IRA to grow untouched. 🔹 Scenario 2: Paul uses a…
The skinny
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