Reversing Your 2020 RMD – August Deadline Looming (Aug 4, 2020)

The CARES Act implemented several measures to help Americans during coronavirus, including the ability to skip taking taxable Required Minimum Distributions (RMDs) for tax year 2020. However, the Act went into effect on March 27, 2020, after many people had already taken their 2020 RMDs earlier in the year. The IRS has since issued guidance allowing individuals to reverse their RMDs if completed by August 31, 2020.

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Understanding Required Minimum Distributions (RMDs) (Jan 22, 2020)

Required Minimum Distributions (RMDs) are an important part of your financial landscape in retirement. Most people must start taking RMDs from qualified retirement accounts at age 72 (previously 70 ½). Here’s what you need to know about RMDs: what RMDs are, accounts subject to RMDs, important deadlines, and more. Understanding RMDs will help avoid penalties and optimize your distributions for tax purposes.

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Age 72: Required Minimum Distributions (RMDs) (Jan 22, 2020)

Congratulations on celebrating your 72nd birthday! Age 72 is the age at which most people must begin taking Required Minimum Distributions (RMDs) from Traditional IRA and other qualified retirement plans. SageVest Wealth Management discusses the various factors to consider about RMDs at age 72 here.

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The Transition Into Retirement (Feb 24, 2012)

Are you ready to retire? The question is actually more complicated than it first appears, because it demands consideration on two levels. First, there’s the emotional component: Are you ready to enter a new phase of life? Do you have a plan for what you would like to accomplish or do in retirement? Have you thought through both the good and bad aspects of transitioning into retirement? Second, there’s the financial component: Can you afford to retire? Will your finances support the retirement lifestyle that you want? Do you have a retirement income plan in place?

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