Episode 16: Reduce Your RMD Tax Hit: Essential Tips for Retirees

John Bever |

The Year You Retire Episode 16 Show Notes

Title: “Reduce Your RMD Tax Hit: Essential Tips for Retirees”


Are you feeling lost with the new required minimum distribution (RMD) rules for IRAs and qualified retirement plans? Do you know when you have to start taking your RMDs and how much you need to withdrawal? Do you want to discover strategies to reduce your taxes on these distributions? Tune in to this episode for clear explanations and actionable advice! We'll cover the essentials of RMD regulations, how to navigate your lifetime income tax brackets, the impact of the Social Security tax torpedo, and smart ways to minimize your lifetime income taxes. Plus, we’ll reveal our top recommendation for reducing taxes on your RMDs. Join CERTIFIED FINANCIAL PLANNER™ professionals, John Bever and Jim Uren, as they unpack these critical topics and share their best tips for maximizing your retirement savings. Don’t miss out on learning how to disinherit Uncle Sam and keep more of your hard-earned money!

In this episode you will:

  • Master the basics of the new RMD requirements so you don’t get hit with costly penalties from the IRS.
  • Maximize your retirement income by learning effective strategies to help reduce the taxes on your annual RMDs.
  • Discover how to manage different tax brackets over your lifetime to help reduce your lifetime income tax costs.
  • Explore the potential benefits of Roth IRA conversions and how they may be able to optimize your retirement income while minimizing taxes.
  • Uncover the impact of Social Security on RMD taxation and how to navigate this aspect of retirement planning.
  • Gain insights on planning for inherited IRAs and taxes to ensure a smooth transition for your beneficiaries.



The key moments in this episode are:

00:00:42 – Updates on the latest RMD Rules 00:03:10 - Understanding RMD Calculation Methods 00:08:02 - Optimizing RMDs for Tax Planning

00:14:01 - Strategies to Reduce Lifetime Taxes on RMDs 00:17:00 - Utilizing QCDs for Charitable Giving

00:18:51 - Delaying RMDs with QLACs 00:20:06 - Power of Roth Conversions 00:25:15 - Strategies for Inherited IRAs


00:27:57 - RMD Pitfalls to Avoid 00:29:27 - Planning for RMDs

00:30:41 - Optimizing Lifetime Tax Brackets 00:31:44 - Topic for the Next Podcast Episode 00:32:45 - Gratitude and Appreciation




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Investing is subject to risks, including loss of principal invested. Past performance is not a guarantee of future results. No strategy can assure profit nor protect against loss. Please note that individual situations can vary. Therefore, the information should only be relied upon when coordinated with individual professional advice.


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