Mastering QCDs in Retirement

Whether you're listening on the radio or listening to his podcast , mr Pistole wants to say thank you for joining us today and now with more ways to show you how to keep your money safe and secure . Here's your host of Safe Money Radio , brad Pistole .

Now , a lot of times on these shows , I will share an entire show on caller questions that we get from people , but this time we're going to start with one of my own clients . I've been a client for more than a decade , and I received an email here just recently that said this Hi , brad , I turned 65 this year and now I'm on Medicare .

When do I have to take my first RMD ? What a great question , and this just goes to show how confusing all these rules are , and I will tell you this is going to be a very powerful show , one that I'm titling the missing part of your retirement plan If you're 70 and a half or older .

Now you're going to find out why it's important if you're 70 and a half or older , but you don't need to shut your brain off If you're not 70 and a half and go oh well , I don't need to think about that for another five or 10 years .

Remember the person who emailed me was age 65 and they confused turning 65 and going on to Medicare with required minimum distributions , known as RMDs . But this discussion turned into an email back and forth over the next three days because all of these confusing questions and timelines and terms and acronyms came up .

We're going to be talking about QCDs and RMDs and age 70 and a half , age 73 , age 75 , and all these kinds of special rules that can greatly impact your tax planning and your retirement income planning in the future . And this actually involved their adult son , who got involved in the mix and was like man .

I'm so glad we're talking about all these things now so I can help mom navigate through all this . So here we go . I'll repeat the question that was asked to me Brad , I turned 65 this year . Now I'm on Medicare . When do I have to take my first RMD , known as a required minimum distribution ?

Well , friends , this opened a whole can of worms about RMDs , qcds and all the rules that go with them . When I looked up this client's birth date to see when their first required minimum distribution would be due , I realized that their birthday falls on the very example that we use in all of our IRA training classes . Their birthday was 12-31-1959 .

Now this may not sound like a big deal to you , other than the old joke hey , why couldn't you have waited one more day to give your parents a tax deduction the next year ? Well , at least they squeezed in that tax deduction on that last day in 1959 . But 12-31-1959 is actually a really important date when it comes to required minimum distributions .

This is literally the last day for all people who will have to start taking their required minimum distributions at age 73 . You see , anyone born one day later on January , the 1st , 1960 or later , their RMD will begin at age 75 . But currently , anyone born through 12 , 31 , 1959 , it's going to be age 73 as the current required minimum distribution .

So this brought up some additional interesting and they are head scratchers . So buckle your seatbelts because you see , since this client has to take an RMD in the year in which they turn 73 , but they were born on the last day of the last year , for people who turn 73 , when do they have to take their first RMD ?

You see , it brings up the interesting question how do you get your financial custodian to send you an RMD distribution on the last day of the year which is the day you turn 73 ? It's almost impossible . I mean , will that company even be open that day ?

Well , in this particular situation and this is why it gets confusing you would actually need to take your first RMD before you actually turn 73 , even though it has to be in the year in which you turn 73 .

You would need to take it while you're still 72 because it's due in the year in which you turn 73 and your birthday is on the very last day of that year .

Unless and there's sometimes a big but or an unless unless you decide to wait until the following year , because you see , in the first year in which you take an RMD , when it is due , you could actually decide to take it the following year before April the 1st .

But if you wait until the following year , which could be one day later , right January 1st , they could take it . You'll actually have to take two required minimum distributions that first year .

So , because her birthday was on 12-31-59 , which is the last day of the last year for people who will fall under the age 73 rule , she could wait until April the 1st of the next year , but she would have to take two . And then this creates something we call a tax whammy .

It would be double taxation , which would increase the taxes on their Social Security distributions . It could tick off ANRMA that we talk about on the show .

Anrma stands for Income Related Monthly Adjustment Amounts , which is based on your total modified adjusted gross income each year , and so if she took two RMDs by waiting until the next year , that's double the amount of taxable distributions from an IRA , which could push her over a threshold .

And so , while discussing all of this and how we would handle her first RMD , it reminded me of the importance and the power of something known as a QCD , which stands for Qualified Charitable Distributions , and while this might confuse you even more , it can actually be a lifesaver when it comes to those of you who are already subject to RMDs .

So that's what we're going to be talking about in our next few segments today . So stay with us .

We're going to be talking about Qualified Charitable Distributions and Required Minimum Distributions and all the rules that go with this charitable distributions and required minimum distributions and all the rules that go with this and we started off 2025 with our very first show of the year with a good friend of mine , certified financial planner , andy Ives , who works

with the Ed Slott Group , america's IRA expert . We had him on as a guest and we're going to bring him back on on the show today to talk about some of this , because this is something you have to get straight . It's very , very important for taxation and income planning in retirement Friends . Our number is 866-780-SAFE . That's 866-780-7233 .

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Now , friends , on today's show , we're going to be talking about several things , but we want to start this segment off by talking about something that is so very , very important for financial planning in retirement , something known as QCDs Qualified Charitable Distributions . Now , the PATH Act of 2015 made QCDs permanent . They're here forever , as far as we know .

Simply put , there are not enough people who know about QCDs , who are taking advantage of this incredible tax break . If you're above the age of 70 and a half and you're subject to RMDs and you're charitably inclined , you need to be using QCDs to give to churches and charitable organizations . Now here's some things I want you to keep in mind .

You can only use QCDs with IRAs . This won't work with a company savings plan like a 401k or a 403b . It only works with IRAs . But if you have an IRA and you're above the age of 70 and a half and you give to charity at all , friends , this is a no brainer . So if you're not using them , you've never heard of them .

You really need to pay attention to today's show . Or if you have a parent who is in their 70s and they give to their church or their charity and they have an IRA , you need to talk to your parents or your friends or your co-workers or your church members about whether or not they're using qualified charitable distributions when they give to charities .

You see , in 2025 , recent tax law changes made qualified charitable distributions even more valuable than they were before , especially if you're taking the standard deduction , which eliminates the tax deduction for charitable gifts unless they're large enough to still itemize those deductions .

Using QCDs will , in essence , add to the standard deduction or existing charitable deductions if you're itemizing , because it allows the donations made from an IRA to be excluded from your taxable income , which lowers your AGI .

Now , since many of you listening right now may not have enough charitable , medical or other remaining deductions that survive tax reform to be itemized deductions that survive tax reform to be itemized you will be using the standard deduction and the QCD can actually add to the standard deduction , resulting , in effect , of getting the standard deduction plus the charitable

deduction . That's why this is so important to understand and to take advantage of . The SECURE Act changed the age for RMDs from 70 and a half that's where it was for forever to 72 . That only lasted for one year . Then it was changed to age 73 under SECURE Act 2.0 . It gets really , really confusing .

But here's the thing , and here's why it's so confusing the age for the QCD did not change . It didn't go from 70 and a half to 72 and 73 , like the RMD did . The QCD has always been at age 70 and a half and it still is at age 70 and a half . So remember , qcds can be used before your RMDs must begin , which currently is at age 73 .

That will change to age 75 for anyone born after January the 1st 1960 . But here's some key things the donation must be directly transferred from the IRA to the charity and nothing can be received in return for the donation . So gifts to what we call DAFs , donor advised funds or private foundations do not qualify . You cannot do this .

Now here's an update to the amount you can use as a QCD . You see it started off at $100,000 , and each spouse can contribute up to $100,000 each , but now it's adjusted for inflation . So for 2025 , the QCD limit is $108,000 each .

In other words , if so inclined , a married couple filing jointly could actually use QCDs to move $216,000 from their taxable IRA accounts and give this money to charities 100% tax-free .

Now they would have taken a tax deduction when they put the money in up front on the front end , and now they're giving it away on the back end to a charity without any taxes due . This is a big big deal .

Now remember , they can't take a tax deduction for giving the money away to a charity with a QCD , but the amount transferred from the IRA is excluded from their annual income . If they're RMD age , it also counts toward the RMD for that year . So this is why it's so important from a tax perspective .

Excluding the amount of the QCD from income is a much better tax benefit than receiving a tax deduction , because it keeps your income lower . This allows for more AGI-based tax benefits , resulting in lower taxes .

Now , when we come back from the short break , my good friend and CFP , andy Ives , is going to give us a more detailed breakdown of how QCDs work and why they are such an important part of a retirement income and tax plan . So stay with us and remember such an important part of a retirement income and tax plan .

So stay with us and remember it's not what you make , it's what you keep after taxes that counts , and that's why this is so important . Friends , if you want my free information , a copy of my number one bestselling book , bulletproof the safe and secure retirement income plan , just give us a call . My number is 866-780-SAFE . That's 866-780-7233 .

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I realize that there's so many confusing terms when it comes to IRAs and 401ks and all this stuff , and one of the most beneficial things that an IRA owner can do is make use of something called a QCD Qualified Charitable Distribution .

We talk about it a lot on this show , but this is especially helpful once a client reaches RMD age , even though they can start at 70 and a half . But it's really helpful . But it seems to trip up advisors , clients , consumers . I even see people write some things that I'm like no , that's not true , be careful .

So walk us through some of this confusing world of QCDs , what they are and how they work .

The foundational rule is you have to be 70 and a half years old , and it's not good enough to be turning 70 and a half later in the year . You have to actually be 70 and a half to do a QCD . Also , I mentioned , it goes from an IRA . Qcds can only be done from IRAs . You can't do a QCD from , like , a 401k plan .

So again , if you try to do a QCD from 401k , it's not going to work . There's a bunch of different rules as far as the charity it's going to go to . It's got to be a qualifying charity . You can't do a QCD to a donor advised fund . That's a popular question . So no DAFs , donor advised funds when it comes to QCDs .

So those are some of the three main bullet points . I'm sure we can get into some weeds on some other ones , but that'll at least get us started here .

They've read one of Cheryl Moore's books . They're like trying to get all this information in their head and it's perfect because they're about six to seven years away from retirement . Now this is a doctor has done really , really well , has millions of dollars in his 401k plan , and they're starting to understand . Hey , we've got some problems coming down the road .

We didn't realize all this is not our money . Part of this is Uncle Sam's and he may be a majority owner , like Ed will say . And here's where it's really interesting , and this is very common . If you're listening right now , you know the doctor is working constantly and doing all the things he's doing in the world of medicine .

He doesn't have time to read and study all this stuff . He's really relying on his spouse . She's the one like just devouring all this information . As soon as I can give her a book , she reads another one . But here's one of the things that came up . So I want to start with this easy yet very complex topic .

She got confused about the RMD and the QCD because she said well , now isn't the RMD 70 and a half ? And I said , of course , yes , and 72 , and 73 and 75 . It depends on when you were born . And so she's like wait , so you can do a QCD at 70 and a half , but your RMD may not be till 73 .

Yes , so talk about , andy , some of that , some of these confusing rules and how those things work together .

Back in the day , just a few years ago , the RMD age was 70 and a half . So those things lined up nicely . But once the SECURE Act came along and SECURE 2.0 , they're pushing that RMD age later and later . So it went to 72 . Then the RMD went to 73 , which is where it is now .

It will go to 75 in a number in a few years from now , but right now it's at 73 . But they didn't change the QCD age of 70 and a half . So it's a bit of an anomaly where you can do a QCD before your RMD age .

There are currently more than 1,200 people enrolled in this program . I was in the first five people in the nation to complete it . We are tax planning certified professionals and that's why we talk to you about things like qualified charitable distributions and how it can affect you in retirement . Call for a free financial consultation .

Remember , we are the only financial planners in this area who are endorsed by Glenn Beck . Our number is 866-780-SAFE , that's 866-780-7233 . And there's always someone standing by to take your call . Well , I must take a short break . This is Brad Pistole and you're listening to Safe Money Radio . Let's pause for some exciting announcements .

If you own an annuity , it's probably a good idea to find out more about how it works and if it's right for you . It's time to give Brad Pistole a call now at 866-780-SAFE , that's 866-780-7233 . Brad will help you review the features and benefits of annuities you currently own without any obligation .

Once again , you can call Brad now at 866-780-SAFE , that's 866-780-7233 . You're listening to Safe Money Radio with your host , brad Pistole .

So let's go back over some of the key points about QCDs . In case you missed it and remember if you did , you can always go online to YouTube , spotify , apple , wherever you listen to your podcast and just subscribe to Safe Money Radio with Brad Pistole . Now let's jump back into these key points about qualified charitable distributions , known as QCDs .

Remember , qcds can be used to satisfy your RMD , your required minimum distribution . This will keep your AGI lower . Remember , rmds increase your tax bills , but QCDs cut taxes and avoid stealth taxes . Qcds reduce stealth taxes based on income levels , since the RMD amount given to charity will be excluded from your income .

Using QCDs can increase your medical deductions and they can lower your Medicare premiums . They can benefit those who claim the standard deduction because it can add to it . They can benefit those who may have their charitable contribution deduction limited . They can increase rental real estate losses .

They can help you qualify for the qualified business income deduction for pass-through self-employed business owners . I benefit from QBI deductions . I know all about this . It's very , very important . They will almost always save you taxes . So let me say this again QCDs will almost always save you taxes and they will never raise your taxes like an RMD will .

Qcds can be very effective in reducing the value of your traditional taxable IRA that you leave to your heirs , especially since most beneficiaries will have to withdraw and pay taxes on the inherited IRA funds within 10 years of the owner's death .

From a tax perspective , it makes much more sense to do charitable giving with taxable IRA funds by using QCDs , so that the dollars can be removed from your IRA tax-free and remember , you took a tax deduction on the front end when you put the money in . Then you get to take them back out and give it away to a charity of your choice absolutely tax-free .

Now let's spend just a couple of minutes talking about some mistakes that people make regarding QCDs . Remember , they're great to use , but you have to follow the rules and sadly , as my good friend Ed Slott will say , about 99% of all people who claim to be a financial advisor don't know these rules .

Only 1% know these rules , and here are some of the common mistakes that advisors are using with their clients , or clients who are trying to figure out this on their own . Here we go Common mistakes Don't ever donate from Roth IRAs to charities . These dollars are already tax-free .

You always want to donate from an IRA that's tax-deferred and use a qualified charitable distribution which will be excluded from your taxable income . Now this next mistake is probably the number one mistake advisors are making when using QCDs with their clients . It's something called the first dollars out rule . So pay close attention . You see ,

once an IRA is subject to required minimum distributions , the first dollars withdrawn during any calendar year are deemed to count towards satisfying the RMD . One of the key benefits of the QCD is that it can count toward the RMD , thereby excluding that from taxation . Once an RMD is taken , that income cannot be offset with a future QCD .

I want to repeat this Once a required minimum distribution is taken , that income which is taxable cannot be offset with a future qualified charitable distribution .

That's why we recommend to our clients who are charitably inclined to use the QCD as early as possible in every single calendar year , and here's why this will reduce the possibility of anyone missing their chance to offset their RMD income with a QCD or the chance that one might be forced to take additional dollars later in the year .

Let's use a real life , specific example . Let's say Bob decides to take his RMD in February because he's going to go on vacation and he takes the money out and deposits it into his bank account . Then later in the year he decides he would like to do a QCD to satisfy his RMD . Friends , this cannot be done . You cannot retroactively claim . Your RMD .

Distribution from back in February is going to be offset by a QCD that you take in October . Remember , this money has to be sent directly to a charity without passing through your hands . And Bob took out this money out of his IRA and put it into his own personal bank account and use those funds personally .

According to the IRS , his RMD has already been distributed for the year and will be taxable to him no matter what .

Now Bob could still do a QCD , but it will not satisfy his RMD and will unfortunately require additional dollars to be withdrawn from his IRA at the time that he chooses to do the QCD and , as a result , that first distribution , all the way back in February , will be taxable to Bob . There's no way around this . In other words , january is the new December .

Always plan for qualified charitable distributions early in the year and make sure they are the first dollars out of your IRA each year , because , I can assure you this , the IRS will . They will pay attention to the first dollars out of your IRA .

If you do this and you use it as a QCD early in the year , this will allow you to use those dollars and it will not be taxable to you and it will satisfy your RMD for the year . Now , friends , I know this is a lot of information .

It's heavy information , but the reason we talk about this on the show is because 99% of all other advisors don't ever talk to their clients about it . Just think about it . Has your advisor ever talked to you about a QCD , a qualified charitable distribution ? Are you above the age of 70 and a half ? Do you give to charities and churches ?

If so and they've never talked to you about a QCD , why not ? If you're 65 , 66 , 68 , and they've never talked to you about it , that probably means they don't have a plan to talk to you about it .

It's great for you to know this information well ahead of time so that you're prepared when time speeds up , flies by and you'll find yourself 70 and a half with an IRA and you won't know what a QCD is . Friends , we are experts in tax planning . I am a tax planning certified professional through the American College and we're here to help you .

The same way we've helped clients all across the United States , we want you to keep the majority of your money in your own pocket and we will show you how to do that . Call us anytime at 866-780-SAFE . That's 866-780-7233 . Remember , you can call and ask for a free financial consultation at any time .

There is always someone standing by to take your call always someone standing by to take your call . Well , I must take a short break . This is Brad Pistole and you're listening to Safe Money Radio . Let's pause for some exciting announcements .

Get a complimentary review of your current retirement plan with Brad Pistole . President of Trinity Insurance and Financial Services 866-780-7233 or online at guaranteed safemoneycom .

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Let's dive a little deeper into one of the most confusing topics there is when you talk about IRAs , and that is RMDs or , as my clients often say , rdms . Brad , I got to take my RDM RMD , yeah , whatever it is . So , andy , let's start at the very basic what is an RMD and why is it so confusing now that we have four different ages that RMDs apply to ?

You don't have to pay taxes if you put , you know , five , six , seven grand , whatever it was that you wanted to put in back in the day . But we're going to give you that deduction now . But the rules are ultimately there will come a time when you have to take money out of that IRA and that's where we're going to tax you on that .

So that's what that is . You made a contribution to a traditional IRA . You took a deduction for that contribution and now here we are , 10 , 15 , 20 , 30 years later . You are now a particular age . The IRS says now you have to start taking money out so that they can get their taxes .

That's the whole purpose of an RMD so that a government can get their taxes . And it used to be that the age to start taking those distributions was the year that you turned 70 and a half , and that was the age for many , many , many years . But over the past just four or five years , that age has changed a couple of times . It changed to 72 .

It changed to 73 . And then , in a number of years from now , it'll change to age 75 . Okay .

You're going to fall under the age 75 rule unless Congress changes it between now and then . Hopefully they don't . I hope they don't mess with these RMDs anymore .

Age 73 has been an effect here now for a couple of years , so really I'm not even mentioning . A lot of times when I do the articles that I write , I don't even mention age 70 and a half or 72 . Now it seems like most people have settled into the age 73 .

If you started the year you turned 72 during that one year , keep taking them . If you're 73 or older now , or about to turn 73 , that's your age and for anyone born after 1960 , it's Friends .

This is why it is so important to understand the difference between qualified charitable distributions , known as QCDs , and required minimum distributions , known as RMDs , and all of the rules and all of the ages for when you can and when you must use them .

Remember , qcds are voluntary and RMDs are required , but you can use a QCD to satisfy your RMD and this will allow you to avoid up to 100% of the taxes that would be due when you take your RMD .

In our last segment , we're going to be talking about required minimum distribution , some more and something called the still working exception , and we're going to be talking about why knowing the rules about RMDs and QCDs and still working exceptions and other types of rules are so important when it comes to your retirement income plan .

Friends , this is exactly why I was one of the very first people in the United States one of the first five people to complete the first ever tax planning certified professional course and designation through the American College of Financial Services in 2025 . There are currently 1,200 people enrolled . It is the new hot button topic designation in financial planning .

So many people want to get their tax planning certified professional designation . I've been interviewed by the American College about this . I've been interviewed by ThinkAdvisor magazine as being one of the first graduates . We focus in on things like the tax planning element of your retirement income plan .

Remember , it's not just what you make , it's not just about your rate of return . It's about what you get to keep once you start taking distributions from those accounts . And it's about what you get to keep once you start taking distributions from those accounts .

And it's about what your heirs get to keep when you pass away and pass that money on to your heirs . Remember , uncle sam does not stop paying attention when you die .

He keeps up with your birth date , the age you would have been , whether or not you've taken your required minimum distribution in the year in which you died , whether or not your spouse has taken the rmd once you've died .

Whether or not you've taken your required minimum distribution in the year in which you died , whether or not your spouse has taken the RMD once you've died , Whether or not your children has taken their RMD once you've died . He never stops watching . Remember . He's $36 trillion in debt . He needs money and he wants your money and he's going to come get it .

And if you're not working with someone who knows how to keep your money in your own pocket he loves it . He will laugh all the way to the bank and when you make a mistake by taking the wrong type of distribution at the wrong time from the wrong account , he will laugh all the way to the bank . He's going to send you a 1099 .

He's going to impose any penalties and he's going to come take your hard earned money and put it in his own pocket and use it however he wants to . This is not what you want , friends . Please call us .

We are retirement income certified professionals and tax planning certified professionals who will help you keep your money safe and out of the hands of greedy little Uncle Sam . Call and ask for a free financial consultation . Our number is 866-780-SAFE . That's 866-780-7233 . And there's always someone standing by to take your call .

This is Brad Pistole , your host of Safe Money Radio . I'll be right back after this informative message .

Brad can help you know you have enough guaranteed income to cover you and your spouse for as long as either of you live , and he'll show you how to protect your money from the next market crash . You don't have to just trust anyone . Do your own homework with Brad Pistole 866-780-SAFE 866-780-7233 .

Call right now for a free copy of Brad's number one selling book Bulletproof the safe and secure retirement income plan . It's completely free and no obligation . He'll even offer a complimentary consultation if you like . Call Brad Pistole at 866-780-SAFE 866-780-7233 , or online at guaranteedsafemoneycom .

Don't decide about your retirement without the facts . Call us now and ask for your complimentary Social Security guide at 866-780-SAFE . That's 866-780-7233 . You're listening to Safe Money Radio with your host , Brad Pistole .

with retirement money preservation and income planning . Now , andy , I know this every single meeting . We get together at least twice a year and a lot of times I'll go to the two days just to get the extra training .

Three , four times a year , I'm sitting in front of you and Ed and the whole team and you're teaching us with our , our Bibles regarding this stuff . Why do we cover RMDs in every single meeting ? We should be able to cover this in a segment in three minutes and be done with RMDs . Why is it so confusing ?

So the fact that it's just so broad and I even asked that question We've put some of the same stuff in the book , in our training manuals , time after time after time , and I asked one of my teammates . I said why do we keep putting this stuff in here ? And the response was perfect . It was like how many questions do we continue to get on this stuff ?

I said you're right Every single day and it's not just people off the street . It is advisor after advisor after advisor that asks these questions . So you just got to keep pounding at home , meeting after meeting .

Do you have to take an RMD ?

It's not required , it's not mandated , it's an optional feature for plans , but most plans have it . If you continue to work , you can put off taking that RMD until the year you separate from service . So , if I have no IRAs , I don't have to worry about any RMDs from my IRAs .

If I have a plan and I work to be 80 , then 80 is my first year for taking an RMD , if that's the year that I retire . Very good , Now I will say that if I did have IRAs , if I did have IRAs and I did have a 401k plan and I was still working , that still working exception does not apply to my IRAs .

So if I have this 401k and I'm still working , I would not have a RMD to take from my 401k because of that still working exception . I would have to take the RMB from my IRA because the still working exception doesn't apply to IRAs .

They have a 401k , still working . Still working , exception applies . But they retire . Let's make it difficult . They retire on December 15th of that year . Do they have an RMD to take now ?

They rolled some of their 401k over into their IRA , which they're certainly allowed to do . But then in your scenario something happens . Maybe the company falls apart , maybe they get injured and they end up leaving on December 15th . Yeah , they get injured and they end up leaving on December 15th .

Now they have separated from service in that year , which means the RMD applies in that year . And in that scenario where they already rolled over in money , strangely enough , by leaving on the 15th of December retroactively , they've got a problem . They rolled over their RMD because the RMD now applies for that year .

The still working exception you have to work for the entire year . For the still working exception . To offset an RMD for a particular year on a 401k . You have to . It's not good enough to retire after your going away party at five o'clock on December 31st . Yes , you got to set your retirement for January 1 .

So many people naturally retire on December 31st and , like Andy said , maybe it's five o'clock on December 31st but depending upon your age and your situation , that can be a terrible decision . Wait until January the 1st for your retirement date . It can set off and trigger so many different taxable situations RM , rmd problems , this sort of thing .

So it's , I mean , how do you take an RMD on December the 31st , after five o'clock , before January one ? It's , it's an interesting situation , so don't do it , stay away from it . Make sure here's what we are always say on the show . Make sure you're talking to a qualified financial professional who knows all this stuff inside and out .

And I'm going to tell you , if you think , your average person on every street corner who's just sells stocks , bonds , mutual funds , and that's all they do is they know all this stuff . They do not know this stuff . They don't even want to wrap their mind around this stuff . So they're just an investment person and that's okay .

For many , many , many years of my father's career , that's all he was . And then here's what happened . Here's what changed . He reached retirement age and when he reached retirement age and all these rules started applying to him , he's like I don't know any of this stuff , like I .

And so he was coming to me asking me , saying I just never dealt with that side of it . When you have to deal with the reality of it's when it will become very , very important to you . That's why we want to be proactive . We want to be thinking about the future , not today .

What's going to happen on down the road with RMDs , with QCDs , with taxes , with Roth conversions , and how many years you have to wait before you can take distributions and all this fun stuff ? Well , friends , I hope today's show has been helpful to you . I know it's not always fun to talk about things like acronyms .

You know QCDs , rmds , rules like 70 and a half , 72 , 73 , 75 , who can take them , who can't , all these tax rules . It's not a lot of fun .

But here's the thing it's really not fun if you don't know the rules and you take distributions and you find out the next April 15th or after a loved one's passed away and left something to you and you take a distribution not knowing the rules and you give half that money back to Uncle Sam . That's when it's really not fun .

The rules and you give half that money back to Uncle Sam , that's when it's really not fun . So , as the longest running financial planning show in the Ozarks , the number one financial planning and retirement planning podcast in the Ozarks , we want you to know the truth Because , just like the old saying is , the truth will set you free .

It will set you free from Uncle Sam and all the taxes he has planned for you and your heirs . Friends , call us anytime for a free financial consultation .

Just ask for a free copy of my number one bestselling book , bulletproof , the safe and secure retirement income plan that will teach you how to be protected from the types of things we've talked about on today's show . Call us anytime . Ask for a free financial consultation . Our number is 866-780-7233 . And there's always someone standing by to take your call .

Well , I'm about out of time and I would like to thank you for listening to Safe Money Radio . If you're serious about your financial future , give me a call and together we'll get your retirement savings on the fast track to accumulation while reducing exposure to market losses .

Thanks for listening and until next time at the same time , I'm Brad Pistole reminding you to stay safe so you can step into a secure future .

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