The Overlooked Financial Consequences RMDs Could Have on Your IRA or 401K

Published on: Sep 18, 2021

Like most retirees, you have been socking away money in an IRA, 401K or some other tax-deferred retirement account. But that’s going to change when you turn 72. Uncle Sam is going to force you to start withdrawing money from your IRA and 401K every year, so he can finally collect the taxes on these savings. These mandatory withdrawals could trigger a chain reaction of events that could cost you an arm and a leg.

In this episode, we share the overlooked financial consequences of required minimum distributions. Plus the strategies that could help you minimize or eliminate them altogether, here are the highlights:

  • The ABC’s of RMD’s
  • There’s a ticking time bomb behind your RMD’s
  • The deadly combination of RMD’s and Sequence of Returns risk
  • How you could reduce or eliminate your RMD’s

Host Ben Christy interviews Beacon Capital Management’s Senior Partner and Co-Owner, Pete Benson, and CEO and Co-Owner Jon Maxson, for this episode of the Beacon Retirement Strategies Radio Show: The Overlooked Financial Consequences RMDs Could Have on Your IRA or 401K

Are you considering retiring in the near future — but aren’t sure if you have enough money saved? This is a difficult assessment under any circumstance, but certain factors make it even more complex. You’ve worked hard to get to where you are and running out of money during retirement is not an option.

We highly recommend you get a second opinion of your current retirement plan, and at Beacon, we offer this service at no cost and no obligation.

SCHEDULE A CALL TODAY TO GET YOUR FREE FINANCIAL PLAN CHECKUP! This includes a tax analysis, along with an income analysis, a Social Security analysis, a fee and risk report, an RMD analysis, and a portfolio stress test.

Also, download our FREE ULTIMATE RETIREMENT PLANNING CHECKLIST to see which areas you need to cover to have a comprehensive retirement plan

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