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Key Takeaways From Our RMD Event (and the Replay!) Thumbnail

Key Takeaways From Our RMD Event (and the Replay!)

Required Minimum Distributions In 2021 

ON TUESDAY, MARCH 23RD at 2 pm CST WE hosted a live, complimentary webinar on RMDs.


Click Here To Watch The Replay


Here's What we covered:


1. All of the basics.

You may not actually know what an RMD is... and that's ok! You'd be surprised at the number of folks nearing or even in RMD age who don't know about this rule. 

(R)equired (M)inimum (D)istributions in a nutshell :

  • The Required Minimum Distribution is the set amount that the IRS requires you to withdraw annually from your retirement accounts after turning 72 years of age
  • Roth IRA's are exempt from RMD requirements
  • If you fail to take your RMD by the deadline, there are penalties


    • 2. How the 2020 changes that the government made to RMDs will impact your withdrawal requirements this year

    In all the chaos and news items last year, you may have missed last year's changes to RMD rules. We'll walk through all of the differences from years prior to now and discuss how that affects you this year. 


    3. Tax planning strategies* as they relate to Required Minimum Distributions

    While we don't provide tax advice, we do provide financial advice as it relates to your taxes. 


    4. How different IRAs are treated

    Some people don't know about the many types of IRAs that exist. Many of these are treated differently when it comes to RMDs. We discussed the differences so that you know exactly what you need to for your individual account type. 

    Attendees of the event also received a whitepaper about calculating your RMD. Join us for our next virtual event to receive the full experience including downloadable content and Q & A time with our speaker.

    If you are over the age of 69 and have an account that may require you to take an RMD, we urge you to watch the replay of this event. Failing to take out your RMD can result in penalties. 


    Questions about our next webinar? Our upcoming events can be found in the 'Events' tab of our website.

    Want updates about all upcoming events so you don't miss a thing? Contact lblair@steinfg.com.

    *Neither Voya Financial Advisors nor its representatives offer tax or legal advice. Please consult with your tax and legal advisors regarding your individual situation.