Mastering RMDs

Your Path to Stress-Free Retirement. 

Required Minimum Distributions (RMDs) – those mandatory annual withdrawals from your retirement accounts – hold the key to a secure retirement. Let’s unlock the strategies that help you optimize your savings and embrace growth while adhering to the legal essentials.

Take Charge Now & Avoid Holiday Stress

RMDs apply to traditional IRAs, SEP IRAs, SIMPLE IRAs, Rollover IRAs, most 401(k) and 403(b) plans, and small business accounts. You generally must start taking withdrawals from your traditional employer-sponsored retirement accounts when you reach age 73.

The RMD December 31 deadline aligns with holiday shopping and festivities. So, start your RMD process early for better account management and less stress.

RMD Deadline Reminders & Notifications to Help Your Retirement Funds Thrive

• Know Your Account Status: The financial institution that had your retirement account as of December 31 last year should have sent you a friendly heads-up about your RMDs for this year. If they didn’t compute the RMD amounts, reach out and request the information.
• Debut RMD Deadline Extension: Only first-year RMDs can be delayed. But remember, there’s a twist. If you delay your first RMD until April 1 of the year after you turn 72, you’re then required to take two RMDs that year, on April 1 and December 31.
• Avoid Penalties: If you don’t take any distributions by December 31 or if you make an error on your distributions so it doesn’t fulfill the requirements, you’re subject to a penalty of 50% of the shortfall.

RMDs are a pivotal chapter in your retirement story. Let First Entertainment Investment Services (FEIS) be your guide. Connect with us today and let’s tackle this together to secure your financial future and start the new year on the right financial note by tackling RMDs now.