What is an RMD? You’ve probably heard the acronym but how much do you know about required minimum distributions? There tends to be a lot of confusion surrounding RMDs, so today we will go over everything you should know.
The Required minimum distribution is the mandatory amount that everybody must take from their qualified accounts in the year they reach age 72. Let’s cover some of the key points to help you better understand RMDs.
Here is some of what you’ll learn on this show:
- What is the purpose of an RMD? (4:26)
- What are the qualified accounts for RMDs? (6:42)
- Differences between RMDs and IRAs. (10:34)
Hopefully, you’ll pick up on something during this episode that you didn’t know about before, but if you have questions about anything we discussed on the show, please reach out. We’ll be happy to talk to you about your financial situation.
