Episode 122: "RMDs - How to Avoid Common RMD Mistakes"

Building up your retirement savings takes decades of hard work, but one misstep with Required Minimum Distributions (RMDs) can lead to massive penalties. In today’s show, retirement expert Tom Mosley explains RMDs and shares the top RMD mistakes people make. He also provides crucial tips on how to avoid them so you can protect your savings from costly errors and unnecessary taxes. Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇 TIMESTAMPS 00:00 RMDs: How to Avoid Common RMD Mistakes 00:28 RMDs Explained 02:30 Missing the RMD Deadline 04:53 Not Calculating the Correct Amount 06:00 Taking RMDs from the Wrong Account 07:52 Not Using RMDs Strategically in Tax Planning 10:59 Forgetting to Take RMDs After a Spouse’s Death 13:22 Overlooking the “Still Working: Exception" 15:04 Not Using RMDs for Charitable Contributions (QCDs) 16:29 How to Make Sense of RMDs & Secure Help Have specific questions for Tom and the team at Mosley Wealth Management? Contact us here 👇 https://mosleywealthmanagement.com/contact/ =========================================== If you enjoy this content, please 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄! https://www.youtube.com/channel/UCPMvD3G1cZA1Kz4CKnwynhA?sub_confirmation=1 ===========================================  ⭐ 𝐂𝐎𝐍𝐍𝐄𝐂𝐓 𝐖𝐈𝐓𝐇 𝐔𝐒 𝐎𝐍 𝐒𝐎𝐂𝐈𝐀𝐋 𝐌𝐄𝐃𝐈𝐀⭐ - Facebook: https://www.facebook.com/mosleyeaseintoretirement - Instagram: https://www.instagram.com/easeintoretirement/ - LinkedIn: https://www.linkedin.com/company/mosley-wealth-management   Learn the key components you need to include in your retirement plan: Check this video out: https://youtu.be/QkJzvbZ_gDs   #RequiredMinimumDistributions #RMDs #RMDPenalty #RMDMistakes #RetirementIncome #RetirementPlanning #RetirementStrategy #FinancialEducation #FinancialLiteracy #HowToRetireEarly #RetirementPlanningAt50 #RetirementPlanningAt60 #HowMuchDoINeedToRetire #HowToRetireEarly #RetirementPlanningTips #FinancialAdvisor #SocialSecurity   DISCLOSURE: Investment advisory services offered by duly registered individuals through Mosley Wealth Management, Inc. (“MWM”). MWM and Mosley Insurance and Financial Services are affiliated companies by common ownership. License # 0K76766  Investing involves risk, including the potential loss of principal. Any references to protection, safety, or lifetime income, generally referred to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength claims paying abilities of the issuing carrier. This content is intended for informational & educational purposes only. It is not intended to be used as the sole basis for financial decisions nor should it be construed as advice designed to meet the needs of an individual situation. All hypothetical examples are provided for illustrative purposes only; they do not represent real life scenarios. Mosley Insurance & Financial Services nor its agents or representatives may not give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any investment decisions. Our firm is not affiliated with or endorsed by the US government or any governmental agency. Some of the information provided may be from one or more third parties which we believe to be reliable sources, but accuracy and completeness cannot be guaranteed by Mosley Insurance & Financial Services.