Introduction: As the year draws to a close, it's essential for retirees and those with retirement accounts to be mindful of their Required Minimum Distributions (RMDs). RMDs are mandatory withdrawals from retirement accounts that individuals must take once they reach a certain age. Failing to take these distributions on time can result in penalties and tax consequences. This article serves as a friendly reminder to prioritize your RMDs before the end of the year and offers some insights on how to handle them wisely. Understanding RMDs: The Internal Revenue Service [...]

The Consolidated Appropriations Act of 2023 was signed into law in December 2022.  Part of this law included what is known as the Secure Act 2.0.  This portion spells out many changes to retirement savings rules that take affect over the next several years.  One might ask, how does this affect me?  Below is a short synopsis of a few provisions that you should be aware of. Probably the biggest change that affects many of us is the modification in Required Minimum Distribution (RMD) time frames.  The original Secure Act [...]