Avoid the RMD Tax Trap
Автор: WealthKeel LLC
Загружено: 2025-03-18
Просмотров: 51
💣Are You Sitting on a Ticking Tax Bomb?
💰Many high-income professionals are saving diligently in their 401(k), 403(b), and other pre-tax accounts. It feels great to know you're doing the "right thing" when it comes to your retirement planning. But have you ever considered what happens when Required Minimum Distributions (RMDs) kick in?
Here’s the scenario: You’re saving aggressively now, deferring taxes on those contributions. But when retirement arrives, or worse, when RMDs begin (age 73 or 75 for most people), you could face tax surprises that are anything but small.
Why does this happen? 🧐
RMDs force you to withdraw and pay taxes on a portion of your pre-tax retirement accounts each year.
The amounts increase over time—from around 4% at age 75 and potentially doubling or tripling decades later.
For diligent savers, those escalating withdrawals can push your tax rate to levels you thought you left behind in your working years.
Is this the price of saving "too much" the "right" way? It might be. For dual-income households or high earners socking away cash into multiple pre-tax accounts, those balances compounded over years can create massive RMDs with significant tax consequences.
There’s good news: Planning ahead can help you control the outcome. For instance, tools like Roth conversions during low-income years or charitable giving strategies (think Qualified Charitable Distributions) can potentially soften the tax blow.
Curious how this applies to you or want to see real-world examples? We break it all down in this video with numbers and visuals that make the concept crystal clear.
Check it out here: • Do you have a Ticking Tax Bomb? Say hello ...
#TaxPlanning #RetirementStrategies #rmds
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Disclosures: This information is for general purposes only. This information is not intended to be a substitute for specific professional financial or tax advice, as individual circumstances vary. Please see a financial professional, CPA, and/or an attorney in regards to your own individual situation.
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