In my conversations with you, we talk about your income needs for the year. Yesterday, I wrote to you about the required minimum distribution from your IRA imposed by the IRS. You don’t want to get crosswise here.
One example, and there’re too many to count, that can mess up investors is when they’re pulling money from their brokerage account before they reach RMD age. It’s on autopilot. Then, when they turn 73, they remember later in the year, they need to satisfy their RMD after pulling money from another account all year.
In the above example, a little prior planning goes a long way. A simple back-of-the-napkin calculation in January could help avoid pulling too much from one account over another that’s required.
My point is not to confuse you. It’s to illustrate how this is a confusing subject. It’s one that takes careful consideration.
Action Line: I’m here to help. Use me as your resource. Email me at ejsmith@yoursurvivalguy.com. But only if you’re serious.
Originally posted on Your Survival Guy.
