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Financial Education: RMD Taxes in Retirement on a 500k IRA


Tax free strategies at RMD's are forced distributions by the IRS on your retirement accounts. This can cause you to pay a lot more in taxes in retirement than you may have planned for. Even if you are investing in the right way - you don't want to pay more in taxes in retirement than you should. So here is some quick financial education. A good strategy can help you save on taxes in retirement. When you reach age 70½, you're required to withdraw a certain amount of money from your retirement accounts each year. That amount is called a required minimum distribution, or RMD. RMD rules apply to tax-deferred retirement accounts: Traditional IRAs Rollover IRAs SIMPLE IRAs SEP IRAs Most small-business accounts Most 401(k) and 403(b) plans Learn about the tax bucket strategy here: ...(read more)


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