Episode 253: Required Minimum Distributions Explained: How to Avoid Costly Tax Surprises

Required Minimum Distributions (RMDs) are an unavoidable part of retirement for many retirees, but understanding how they work can help you avoid costly tax surprises. In this episode of Retire With Style, Wade and Alex break down the rules surrounding RMDs, including when they begin, which retirement accounts are affected, and how to calculate the amount you’re required to withdraw each year. They walk through a real-world example to explain the IRS life expectancy tables and discuss why large tax-deferred account balances can create unexpected tax consequences, even when you don’t need the…