Advisors Should Rethink the ‘M’ in RMD

Retirement Talk Podcast with Laura Stover

The recent passing of SECURE Act 2.0 brought about a long list of planning opportunities, but the change in age for required minimum distributions will give advisors a chance to think outside the box on RMD strategies.

Now that the age has increased to 73, retirees and pre-retirees have even more time to evaluate options to start reducing retirement accounts in the most tax efficient way possible. Here’s what you should be asking: what strategies can I put in place that allows my money to be working for me and eliminates my future taxation? In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will share a few of the creative solutions that could be on the table for you.

Taking a tax-proactive approach is one of the pillars of our Redefining Wealth® process and RMDs provide a great chance to accomplish that. Our tax team can provide a wonderful walk-through and help our clients evaluate ways to reduce these accounts down based on your goals and what you’re trying to achieve. Let’s use these SECURE Act 2.0 changes to jumpstart the discussion and help save you the most money possible over time.

Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/

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How to Connect:

redefiningwealth.info

lswealthmanagement.com

Schedule a Review: https://redefiningwealth.info/schedule/

Timestamps (show notes):

4:44 – Why the tax rates today might give you more reason to take out more.

6:56 – Taking control of your future taxation by pulling money out ahead of 73.

9:06 – Are pre-RMDs a good strategy?

15:36 – When should you consider a Roth conversion?

21:38 – Using Qualified charitable distributions to lower tax rates