Final RMD Regulations: What You Need to Know
Episode description
The first week of August might be National Simplify Your Life Week, but one thing that remains complex is managing your IRA and other tax-deferred accounts. These accounts are subject to the Required Minimum Distribution (RMD) Rules, which can be confusing to navigate. Fortunately, the IRS recently issued final regulations to help clarify these rules, and in the episode, Liz will cover the main rules you need to know.
Listen in as we dive into the important changes brought by the SECURE Act and SECURE 2.0 and share some items to consider if you’re an IRA owner, beneficiary or still working. As we navigate these regulations, remember that working with a qualified financial advisor can make all the difference. By staying informed and proactive, you can simplify your financial life and achieve a successful and happy retirement.
Here’s some of what we discuss in today’s show:
- Why did we need the final RMD regulations?
- The new IRA inheritance rules for eligible and non-eligible beneficiaries
- Rules for non-designated and contingent beneficiaries
- Some things to consider if you’re an IRA owner, beneficiary or still working
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