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0:00 – 1:43 Intro
1:44 – 6:19 A detailed analysis of today’s inflation number.
6:20 – 12:43 Why the stock market was lower today?
12:44 – 14:46 When To Take RMD’s?
14:47 – 15:39 Good Year Tire stock and earnings analysis
15:40 – 15:57 Jet Blue stock and earnings analysis
15:58 – 17:19 KO (Coca-Cola) Earnings and stock analysis
17:20 – 26:50 End of show!

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When To Take RMD’s? Stock Market Says NOT NOW!

As retirees approach the age of 72, they are faced with an important decision – when to take their required minimum distributions (RMDs) from their retirement accounts. RMDs are the minimum amount that retirees must withdraw from their retirement accounts each year, based on their age and the value of their account. This requirement is enforced by the Internal Revenue Service (IRS) and failure to take RMDs can result in hefty penalties.

For years, the traditional advice has been to take RMDs at the beginning of the year in order to avoid penalties for failing to withdraw the required amount. However, 2020 and 2021 have been no ordinary years for the stock market, due to the COVID-19 pandemic. With the market experiencing significant volatility and uncertainty, retirees are faced with a dilemma – should they take their RMDs as usual, or should they wait for the market to stabilize?

The stock market says – not now. The volatility and unpredictability of the stock market in recent years have made experts rethink the conventional wisdom of taking RMDs at the beginning of the year. It’s a particularly important consideration for retirees who depend on their retirement accounts for income, as taking RMDs at a time when the market is down could significantly impact their financial security in the long term.

Several investment advisors and financial planners are advising their clients to consider delaying the withdrawal of their RMDs until later in the year, in the hopes that the market will have stabilized by then. By taking a wait-and-see approach, retirees can potentially avoid locking in losses and give their retirement accounts a chance to recover.

Of course, this strategy comes with its own set of risks. If the market continues to be volatile or experiences a prolonged downturn, delaying RMDs could mean missing out on potential gains and compounding the impact on retirement savings. Additionally, retirees should be mindful of the IRS deadlines for taking RMDs, as failure to withdraw the required amount can result in a 50% penalty on the amount that should have been withdrawn.

Ultimately, the decision of when to take RMDs is a personal one and should be carefully considered in consultation with a financial advisor. Retirees should assess their own financial situation, risk tolerance, and retirement goals before making a decision. In the current economic climate, it may be prudent to exercise caution and consider waiting to take RMDs until the stock market shows signs of stability.

In conclusion, the stock market’s recent volatility has prompted many retirees to reconsider when to take their RMDs. While the traditional advice has been to take RMDs at the beginning of the year, the current market conditions suggest that it may be wiser for retirees to wait until the market stabilizes. However, this decision should be made carefully and in consultation with a financial advisor, taking into consideration individual financial circumstances and goals. As always, it’s important to stay informed about IRS regulations and deadlines to avoid potential penalties for failing to withdraw RMDs.