Financial Planning Insights: Required Minimum Distributions

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How Can We Help You with Required Minimum Distributions?

Baby Boomers have a $2 Trillion Tax Bill coming due as the oldest baby boomers start hitting age 70 ½ on July 1st 2016. As required by the IRS – those boomers will be forced to take required minimum distributions (RMDs) from their retirement savings accounts, whether they need the income or not. Currently there is over $14 Trillion (August 2016) in Traditional IRAs and 401(k) accounts – and even at a low marginal income tax rate of 15%, there will be more than $2 Trillion paid to the federal government.

At Belmont Capital Advisors, we work closely with Baby Boomers in planning for these distributions to ensure the proper amounts are taken from the correct accounts to avoid penalties by the IRS. These distributions can have adverse implications as it relates to:

  • Adjusted Gross Income & higher tax brackets
  • Taxation of benefits (Social Security, Medicare)
  • Inheritance to children and/or grandchildren

Want to Know More About RMDs?

Join us for a Complimentary Financial Seminar to discover what RMDs are and how they may affect your retirement strategy. You've worked hard for your money. We'll work just as hard to help you protect and grow it.

Let financial advisor and licensed insurance professional, JoePat Roop, from Belmont Capital Advisors, Inc. share the 10 things you should know about RMDs and retirement withdrawals, such as:

  •     What are Required Minimum Distributions and when are they required?
  •     How is the amount of a Required Minimum Distribution calculated?
  •     How can you plan for monthly retirement withdrawals from your nest egg?
  •     How could insurance be used in your retirement portfolio?

"It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for."
-Robert Kiyosaki

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