If you have tax-deferred assets, Required Minimum Distributions or RMDs are going to be a problem you need to address.
Required Minimum distributions are forced withdrawals from your tax-deferred accounts.
The troubling part is you will be forced to take these IRA Required Minimum Distributions whether you need the money or not.
Now, this forced income can create some obvious problems like pushing you into the next tax bracket.
But the biggest problems with RMDs are not all that obvious…
RMDs create a cascading tax effect that can push you into other tax hurdles like the Social Security Tax Torpedo or Capital Gain Bump Zones.
What can retirees do to overcome this problem?
For many, Roth Conversions are an ideal solution.
Using sound Roth Conversion strategies, you can minimize or entirely eliminate RMDs by converting your tax-deferred balances to Roth IRAs.
Luckily, there are no mandated withdrawals from Roth IRA accounts.
Watch this video as we explore this Cascading RMD Tax problem that can cripple your tax situation and how a 2021 Roth Conversion can provide a solution.
If you’re interested in receiving help on building a sound Roth Conversion strategy, fill out this form on our website at www.safeguardinvest.com/contact
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Always remember, “You Don’t Need More Money; You Need a Better Plan”
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Safeguard Wealth Management is a Registered Investment Advisor in the State of WI. Safeguard Wealth Management is not an insurance provider. All content on Youtube is for informational purposes only and should not be taken as personal advice for your situation. You can read more disclosures at https://www.safeguardinvest.com/fiduciary