Retirement Blog


RMDs and Beneficiaries

Are you aware of the impact your RMD strategy can have on your beneficiaries? When you inherit an IRA, you are free to withdraw without penalty as much of the account as you want at any time. However, it’s important to be aware of any potential income tax implications for...

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Uncle Sam and RMDs

Did you know you could be hit with a tax penalty of up to 50% for missing RMD deadlines? For example, if you were supposed to take out $15,000 but only took $11,000, you’d owe a $2,000 tax penalty plus income tax on the shortfall.1 The good news is there...

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How to Calculate RMDs

Ever wondered how to calculate your RMD correctly? Here are some of the basics you should know about: To calculate your RMD, divide your year-end account balance from the previous year by the IRS life-expectancy factor based on your birthday in the current year.1 If you own multiple IRAs, you...

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