Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Well, thanks for posting! I had no idea about this, and I turn 70.5 in July of 2020. So I'm now deferred to 72. Although I think my monthly withdrawals probably amount to almost 4% as it is.
Hey, I did have a question though: How does the RMD process get started? Does the financial institution automatically start deducting RMDs when it's your time, or are you expected to do it yourself, or what?
Well, thanks for posting! I had no idea about this, and I turn 70.5 in July of 2020. So I'm now deferred to 72. Although I think my monthly withdrawals probably amount to almost 4% as it is.
Hey, I did have a question though: How does the RMD process get started? Does the financial institution automatically start deducting RMDs when it's your time, or are you expected to do it yourself, or what?
you have to do it . but most can be set up on autopilot by you
keep in mind all pushing the rmd's out is accelerate and increase the amounts drawn when they do kick in causing bigger tax bills as well as potentially triggering higher medicare premiums if you exceed the brackets .
keep in mind all pushing the rmd's out is accelerate and increase the amounts drawn when they do kick in causing bigger tax bills as well as potentially triggering higher medicare premiums if you exceed the brackets .
Mathjak, at what point does income trigger higher Medicare premiums? Roughly, how much are they increased?
I guess one of the benefits of being in my income bracket is that I do not have to be concerned with the medicare surcharge. Although, I would think that if I had an income that would trigger the surcharge, I still wouldn't worry about it.
keep in mind all pushing the rmd's out is accelerate and increase the amounts drawn when they do kick in causing bigger tax bills as well as potentially triggering higher medicare premiums if you exceed the brackets .
Are you saying that the minimum rate of withdrawal increased also with the Secure Act, that it’s no longer 3.65% the first year?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
