Do you need to take a Required Minimum Distribution (RMD) from each of your retirement accounts or can you take it all from one?
Have a question for the show? Call or text 574-222-2000 or leave a comment!
Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898.
Find more information about the Wise Money Show™ at
LINKS:
Be sure to stay up to date by following us!
Facebook –
Twitter –
Instagram –
Want more Wise Money™?
Read our blog!
Listen on Podcast:
Subscribe on YouTube:
Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results….(read more)
LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
Thanks, good info.
Interesting. You got it right, many do not, yet explained it quite simply. Congrats. Not sure why the low views, but keep at it.
Great and helpful as always. I'm curious about your statement that there is no reason to leave money in a 401K and not convert it to an IRA. I'd agree with that for ROTH assets, but it seems like there are a lot of potential 'gotchas' for transferring nonROTH 401K assets to an IRA of any kind. If you find that interesting and have time to talk more about the roth conversion impact, I think the community will enjoy hearing your knowledge share.
Mike, you're the best! Your video is always informative and helpful! Thank you!
it requires money to make money this is the best secret I have ever heard we don't make money we make multiple money
Why would it matter for most? RMD(IRA-TOTAL) + RMD(IRA-x) + RMD(IRA-y) + RMA(IRA-z) = the RMD basis … and RMD can be taken from any/multiple of the IRA accounts … as long as the RMD taken = RMD(IRA-TOTAL). Then, payment of taxable income is based upon RMD(IRA-TOTAL). As you say, caveat is if still working any current 401k is not included in the RMD basis.