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RMD’s & Wealth Management

RMD’s (Required Minimum Distribution) Explained

When you reach age 70 1/2, you are required by the IRS to start taking a minimum withdraw on accounts such as:
• IRA
• SEP IRA
• SIMPLE IRA
• or retirement plan account

You can withdraw more than the minimum required amount however, you cannot withdraw less than the minimum amount set by the IRS.

Those withdrawals will be included in your taxable income except for any part that was taxed before (your basis) or that can be received tax-free (such as qualified distributions from designated Roth accounts).

The exact required amount varies and is generally calculated for each account by dividing the prior December 31 balance of that IRA or retirement plan account by a life expectancy factor determined by the IRS.

 

Understanding Your Tax Picture

One of the things we do best is help our clients understand their tax picture with RMD’s. Our Advisors will walk you through the process and explore the possibilities. We can help you determine the best retirement withdrawal strategies, offer advice on pension or social security options based on your retirement needs.

 

Wealth Management

Solutions that work for the life you envision Building and managing your wealth takes planning, discipline and a long-term strategy. Our goal is to paint a picture of where you are and develop a plan that will help you become financially independent. A common saying we have around here is that we want you to eat the egg and leave the chicken alone so that the chicken keeps on producing eggs. We are experts at exploring non-common stock option strategies that match your comfort level and keep producing income for you to live on all throughout retirement.

Call for a free consultation 918.794.9290

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Workshops

Our financial workshops are free and are packed with helpful information that will educate you on retirement options and equip you with confidence and peace of mind.

Topics covered are:
• Social Security planning – Learn how to get the most out of social security and how to avoid taxes.
• Estate planning – Everything you need to know about wills and trusts.
• IRA & RMD planning – Understanding your tax picture with RMD’s (Required Minimum Distributions)

If you would like to attend one of our free workshops, you can call Eileen 918.794.9290 or click button below.