Are Your Allocations Right for RMDs

There is an ideal order in which to pull from retirement accounts when taking IRS Required Minimum Distributions (RMD). The goals, which often go unheeded, are to help minimize taxes, try to minimize taking principal, and earn as much as possible. These goals are easy enough to understand, but there are many factors to consider. It takes a well-planned strategy to ensure the interest and dividends you’re generating from your savings and investments are sufficient to cover your RMDs, keep your tax bill at a minimum, and satisfy your other expenses throughout retirement.

As you may know, RMDs are distributions the IRS requires you to make on your retirement savings each year after you’ve reached age 73. The amount changes each year in conjunction with your life expectancy and the balance of your IRAs and other qualified plans as of December 31 of the preceding year.

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Arbor Financial Services of Florida is a full-service financial firm dedicated to helping those in the Melbourne, FL area meet their long-term financial goals. Our team of financial advisors and wealth managers are experienced in helping clients preserve their savings, so they can use it as a source of steady income in retirement.

All written content on this site is for informational purposes only. Opinions expressed herein are solely those of Arbor Financial Services,  and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. Investing involves risk. There is always the potential of losing money when you invest in securities. Asset allocation, diversification and rebalancing do not ensure a profit or help protect against loss in declining markets. All information and ideas should be discussed in detail with your individual advisor prior to implementation. The presence of this website, and the material contained within, shall in no way be construed or interpreted as a solicitation or recommendation for the purchase or sale of any security or investment strategy. In addition, the presence of this website should not be interpreted as a solicitation for Investment Advisory Services to any residents of states where otherwise legally permitted to conduct business. Fee-based financial planning and Investment Advisory Services are offered by Sound Income Strategies, LLC, an SEC Registered Investment Advisory firm. Arbor Financial Services and Sound Income Strategies  are not associated entities. Arbor Financial Services is a franchisee of Retirement Income Source. Retirement Income Source and Sound Income Strategies are associated entities. © 2023 Arbor Financial Services

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