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Required Minimum Distributions - What You Need to Know

Insights Retirement Planning Finances and Planning for Women

One of the most common questions asked by our clients pertains to Required Minimum Distributions.  Most people know they will reach an age where they have to take something from their retirement accounts.  But not everyone understands how it works.  Today we will talk about the rules, how the amount is computed, what happens if you fail to take your required minimum distribution.

  • 0:00 – Intro
  • 0:12—Disclaimer
  • 0:22 – The Basics
  • 2:19 – Calculating an RMD
  • 2:48 – Some things you should know. The penalty
  • 3:48 – Delaying your First Required Minimum Distribution
  • 4:43 – Multiple IRA’s and 401k accounts
  • 5:40 – If you’re still working, you may not have to take an RMD
  • 6:00 – You can’t put your Required Minimum Distribution in a Roth IRA
  • 6:45 – RMD’s and Taxes
  • 8:12 – Qualified Charitable Distributions
  • 9:51 – Taking your Required Minimum Distribution in cash or “in kind”
  • 11:04 – What if you fail to take your RMD, What should you do?
  • 12:56 – Potential Changes to Required minimum distributions
  • 14:42 – Final Thoughts
  • 15:40 – Outro

Watch Now:  Required Minimum Distributions - What You Need to Know

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Do You Have Questions?


Through the years, the rules surrounding required minimum distributions have been simplified.  But there is still a lot to consider.  If you have specific questions or would like to talk to one of our advisors about your situation, fill out the form.  We will be happy to answer your questions and address your concerns.

Appearing in This Episode

Financial Consultant Wheeling West Virginia

Tyler Szafran, CRPC®

Tyler is a financial consultant in our Wheeling, West Virginia Office

FinANCIAL ADVISOR parkersburg west virginia

Michael Seese, CFP® 

Mike is a Certified Financial Planner™ in our Parkersburg, West Virginia Office.

Neal Watson CFP® 

Neal is a CFP® Professional in Marietta, Ohio.

Learn more about our team of financial advisors.