RMD Strategy Explained

[@davidfolts5893]

These gentlemen are two of the most intelligent and most kind on KZbin!

[@CardinalAdvisors]

Thank you

[@mark_osborne]

Fantastic video Hans - super informative , thank you !

[@commonsense6967]

There are at least as many singles at age 65 as marrieds. These annuities are set up only for marrieds. Glad I've converted most of my IRA to a Roth, now that I'm nearly 72.

[@rickdunn3883]

You guys do a nice job.

[@CardinalAdvisors]

Thank you

[@falconbritt5461]

You guys are so clear and easy to understand in your explanations. Thank you for this channel! A couple of questions: Does "Uniform" mean this table applies to disabled owners of Inherited Traditional IRA's? And when do disabled owners of those have to start taking RMD's, does it depend on their age? I know they don't have to disburse the entire IRA within 10 years, but does that kick in when they reach "full retirement age" under the IRS charts based on their birthdates?

[@CardinalAdvisors]

Contact me. Hans Scheil 919-535-8261 [e-mail]

[@dww1213]

I may do annuities now..why not. I have an understanding atleast now. Before didn't have a clue. Thank you.

[@METVWETV]

Why not is because they're structured to pay the Insurance company NOT YOU! They may have their place in moderation but you will do better with Stock Market returns

[@phillyboylaboy]

Qcd sounds good 😊

[@AdamHelb]

I don't think the do nothing strategy is that bad. Roth conversion also means paying tax and paying more for medicare. The best time for Roth conversion is when you're younger than 65 and do it gradually. Having to take RMD is not that bad, you just deposit that in a taxable account. Giving away your life savings to charities is probably the worst strategy unless your main goal is to minimize taxes.

[@METVWETV]

"Giving away your life savings to charities" Is noble and it's only wise if you're a giver. It's foolish if it's a tax avoiding "Strategy!"

[@courtneygoodwin4766]

Hi friend… You are adorable. Thank you for the dry erase board.

[@jonathanschwartz8]

Hi. Wasn’t able to locate the 2024 Tax Planning cheat sheet mentioned in your video. Is there a link available?

[@CardinalAdvisors]

cardinalguide.com/wp-content/uploads/2024/02/RMD-Strategy-Explained-Show-Notes_1-1.pdf

[@geneadaway2671]

Could I convert 10,000 a year to Roth without paying taxes up to age 73, assuming only 24,000/yr S/S?

[@Miasophia22]

If you had taken out an annuity or long term care from your IRA are they included your balance in calculating your RMD?

[@CardinalAdvisors]

The distribution counts toward your RMD

[@hubster4477]

Is there a dollar amount where doing nothing starts getting dangerous/expensive for RMD's ?

[@CardinalAdvisors]

RMDs start at age 73 requiring 3.77% of your IRAs to be distributed that year. Each year after a growing percentage to about 5% at age 80 and growing from there. www.irahelp.com/system/files/articles/pdf/2023%20Uniform%20%26%20Single%20Life%20Tables.pdf

[@tr3vorb438]

Don’t annuities lose value against inflation?

[@CardinalAdvisors]

Yes they lose value against inflation. Most retirees put some of their money in annuities to protect from loss of principal and create an income which lasts for life.

[@HungNguyen-se8dn]

Which age does person born 08/03/1955 must take the first RMD?Thanks

[@CardinalAdvisors]

You are 73 in 2023. Your first RMD is due by 04/01/2024.

[@allrightonthetrail8873]

You will reach age 73 in 2028. Your first RMD is due by 04/01/2029.

[@stevebc957]

@@allrightonthetrail8873 can't believe it took 8 months for someone to notice this incorrect answer