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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Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)