Episode 62: How to Plan for RMD Taxes
by Financial Design Studio, Inc. / March 26, 2025If you have a retirement account, one day you will face Required Minimum Distributions. And the sooner you plan for these the better it will be for your taxes! In this episode, we walk you through how RMDs work, how to plan for RMD taxes in advance of your retirement date, and how all this works for inherited accounts as well!
Take a listen right here, or head over to your favorite steaming platform!
Related Links
Read Rob’s article, Why Corporate Executives Need to Plan Around RMDs Now
Learn about the SECURE Act 2.0 and how it affects your inherited accounts:
- Article: Retirement Changes in SECURE Act 2.0
- Article: What are the Latest Inherited IRA Rules?
- Video: Inherited IRA Distributions: Pre-SECURE Act
- Video: Inherited IRA Distributions: Post-SECURE Act
Resources we have on Roth Conversions:
- Video: Save Taxes by doing Roth Conversions
- Article: How to do a Backdoor Roth Conversion
- Video: The Mega Backdoor Roth Conversion Strategy
Timestamps
1:37 Required Minimum Distributions explained
13:45 How RMDs work for inherited accounts
20:05 How RMDs affect your taxes
24:08 Ways to plan for RMDs
30:55 Deeper dive on Roth Conversions
36:49 Deeper dive on Qualified Charitable Distributions
46:41 Deeper dive on Timing and Early Withdrawals
49:37 How to use your RMDs once they are yours
55:46 Closing thoughts
Credits for Episode 62
Host: Michelle Smalenberger, CFP®
Guest: Trevore Meyer, CFP®
Executive Producer: Anna Lewis
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Financial Design Studio, Inc.
We are financial advisors in Deer Park and Barrington, IL. A team with a passion for helping others design a path to financial success — whatever success means for you. Each of our unique insights fit together to create broad expertise, complete roadmaps, and creative solutions. We have seen the power of having a financial plan, and adjusting that plan to life. The result? Freedom from worrying about the future so you can enjoy today.