Minimize RMDs When You're Already Taking RMDs | Eliminate RMDs After Age 72

Are you over 72 and taking your annual RMD and wondering how you can minimize future RMDs? Do you feel like you've missed the boat on Roth Conversions to minimize RMDs? You can schedule an appointment with one of our Retirement Experts to look at your situation and help you plan for your future. Call us at (920) 544-0576 or go to https://www.safeguardinvest.com/contact.

Once you've turned 72 and are forced to take RMDs, has the window closed for minimizing future RMDs?

Many retirees feel this is the case. The good news is, they shouldn't.

Roth Conversions over the age of 72 are a more complex calculation but still have value.

A current year's RMD forces us into a given tax position. Outside of using a qualified charitable distribution, there isn't much we can do about this year's Required Minimum Distribution.

And if we just take this year's RMD without implementing other tax strategies, we really won't be doing much to minimize future RMDs either.

But for many retirees, using tax strategies like Roth Conversions up and above their RMD can start to make sense.

We walk through a few different examples in this video. We also show how Roth Conversions can be paired with strategies like a QCD to create additional room for lower-taxed conversions.

0:00 Suzanne's Common RMD Problem
1:10 Why RMDs Grow Due to RMD Creep
1:58 Can You Convert Your RMD to a Roth IRA?
2:56 Roth Conversion to Avoid IRMAA
4:50 Roth Conversions Above Your RMD
9:02 The Factor Right Now that Improves Conversions
9:35 Minimize RMDs with a Qualified Charitable Distribution
10:41 QCD Paired with a Roth Conversion

#RMD #RetirementIncomePlanning #RothConversions
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Safeguard Wealth Management is a Registered Investment Advisor in the State of WI. Safeguard Wealth Management is not an insurance provider. All content on Youtube is for informational purposes only and should not be taken as personal advice for your situation. You can read more disclosures at https://www.safeguardinvest.com/fiduciary

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