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Wealthy Habits Podcast

Are there some important financial questions and considerations that you've overlooked? On this show, we want to come alongside your financial and retirement journey to help you answer those questions and experience financial success.


Dave Elizondo and Drue Kampmann are Co-Founders of True Financial Partners, serving the Quad Cities. Their goal is to provide you with great information and education to help you retire with security and comfort.

As you get closer to retirement, the money choices you make become more and more critical. So make sure you're getting proper guidance and help along the way. On the Wealthy Habits Podcast, we'll cover things like social security, taxes, income planning, investments and so much more.


Reach out if you have any questions at https://www.truefinancialpartners.com/ or by calling 563-359-8783.

  1. All Episodes
  2. Understanding RMDs: A Guide For Retirees & The Soon-to-Retire

Understanding RMDs: A Guide For Retirees & The Soon-to-Retire

Oct 26, 2023

Are you over 55 and pondering retirement? Join us as we delve into the realm of Required Minimum Distributions (RMDs). Unfortunately, RMDs can be a tad bit confusing, so in today’s episode, Dave and Drue are here to unravel the mystery and ensure you have a clear understanding of the process.

Listen in as we break down the basics of RMDs and explain how they are calculated based on your age and account balance. We’ll also share strategies to potentially avoid them and share the risks of not preparing for them in advance. And for those fortunate to not rely on RMDs for income, we'll explore impactful ways to utilize those funds.

 

Here’s some of what we discuss in this episode:

  • What are RMDs and why do they exist?
  • When should you start planning for RMDs, and what actions can you take to reduce their impact on your tax liabilities?
  • What are the risks associated with not planning for RMDs in advance?
  • RMDs can be redirected to charitable organizations

 

Contact Dave and Drue: 

Web: https://www.truefinancialpartners.com/

Email: info@truefp.biz

Phone: 877-359-8783