Happy Half Birthday, Baby Boomers!

CFG Planner Blog /

Posted by Judith Sanborn, CFP®, AIF®

The first boomers turn 70 1/2 in July. Don’t give the IRS too much reason to celebrate.  When you hit this age, it is time to start taking a Required Minimum Distribution (“RMD”) from your IRA.  RMDs can be seen as confusing, so be sure to review these tips.

  • Learn the rules for your first RMD.
  • Calculate your RMDs.
  • Don’t forget your 401(k)s.
  • Reduce taxes by giving your RMD to charity.
  • Reduce your RMDs with a QLAC.
  • Stop contributing to your traditional IRA.

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Click here for more information on Judith. To set up a free consultation with Judith, either call 407-869-9800 or complete this form.

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