Benz: What To Do With Unneeded RMDs

Morningstar's Christine Benz shares a few tax-efficient options for retirees who don't need their required minimum distributions.
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[@robertjohnson4401]

Christine Benz' advice is always spot on.

[@Retiredmco]

Christine the Vanguard tax managed balanced index fund admiral shares is a fantastic non retirement account option! Also Q. C. D's is an excellent way to go to keep the tax man and or woman at bay 🤣🤣! I'll give my total traditional ira to charity each year. The amount will be slightly more than my RMD. Thanks for the advice.

[@URNOTGJK]

When will Morningstar start publishing more contemporary advice...everything I see is 2+ years ago.

[@waltb4415]

Christine's advice is timeless and proven. So is Dave Ramsey's advice. He has lots of fresh content but it's the same solid advice as he has been saying for years.

[@Retiredmco]

@@waltb4415 Couldn't agree more!!!

[@johns4386]

The most recent columns, interviews, articles, etc. by Morningstar contributors (Christine Benz is only one of them) can be found at Morningstar's web site. Any particular piece of content there is sometimes only hours old.

[@damarcuswilson1]

what about life insurance

[@hanselbermudez7604]

I tell my clients to invest in life insurance with a chronic illness or long term care rider.

[@theodorehaskins3756]

@@hanselbermudez7604 So what type of life insurance are you recommending here? The reason I’m asking is there’s many types of life insurance strategies & they vary widely in terms of benefits, because you got whole life insurance, term life insurance etc. etc. so what specific type of life insurance are you telling your clients to invest in or doesn’t that matter?

[@hanselbermudez7604]

@@theodorehaskins3756 Term does not serve this purpose. Find a permanent life policy with a crediting strategy that fits your risk tolerance. So either Variable UL or Indexed UL contracts.