Don't Need Your Required Minimum Distribution (RMD) Just Yet? Here's What You Can Do With the Cash Influx.

Motley Fool12-20 18:15

The deadline is rapidly approaching for some retirees to take required minimum distributions (RMDs) from certain retirement accounts. RMDs now start at age 73 and typically need to be ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2492540416?lang=en_US&edition=fundamental","thumbnail":"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F801106%2Folder-adult-doing-research-on-computer.jpg&op=resize&w=165&h=104","is_english":true,"pubTime":"2024-12-20 18:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2492540416","market":"us","top_or_hot":-1,"title":"Don't Need Your Required Minimum Distribution (RMD) Just Yet? Here's What You Can Do With the Cash Influx.","media":"Motley Fool","content":"<div>\n<p>The deadline is rapidly approaching for some retirees to take required minimum distributions (RMDs) from certain retirement accounts. \n\n\n\n\n\n\n\nRMDs now start at age 73 and typically need to be ...</p>\n\n<a href=\"https://www.fool.com/retirement/2024/12/20/dont-need-your-required-minimum-distribution-rmd-j/\">Source Link</a>\n\n</div>\n","source":"fool_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Don't Need Your Required Minimum Distribution (RMD) Just Yet? Here's What You Can Do With the Cash Influx.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDon't Need Your Required Minimum Distribution (RMD) Just Yet? Here's What You Can Do With the Cash Influx.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-20 18:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/retirement/2024/12/20/dont-need-your-required-minimum-distribution-rmd-j/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The deadline is rapidly approaching for some retirees to take required minimum distributions (RMDs) from certain retirement accounts. \n\n\n\n\n\n\n\nRMDs now start at age 73 and typically need to be ...</p>\n\n<a href=\"https://www.fool.com/retirement/2024/12/20/dont-need-your-required-minimum-distribution-rmd-j/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4548","symbol_name":"巴美列捷福持仓","start_time":0,"source_url":"https://www.fool.com/retirement/2024/12/20/dont-need-your-required-minimum-distribution-rmd-j/","article_id":"2492540416","we_media_id":null,"thumbnails":["https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F801106%2Folder-adult-doing-research-on-computer.jpg&op=resize&w=165&h=104"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492540416","pubTimestamp":1734689700,"columns":[],"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"The deadline is rapidly approaching for some retirees to take required minimum distributions  from certain retirement accounts.Consider exchange-traded funds , and you'll have instant diversification.If you're still earning income from side gigs or other work, you can use your RMD money to fund a Roth IRA if you qualify.2. Determine if a QCD is right for youNot feeling up to managing your RMD?Maybe you'd rather put that money to good use supporting others. A qualified charitable distribution  might be your cup of tea. If you're 70 1/2 or older, you can use a QCD to satisfy your RMD and support your favorite charity without itemizing deductions.The best part?","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4548":"巴美列捷福持仓","LU2008162690.USD":"FIDELITY FUNDS - ASIA PACIFIC OPPORTUNITIES \"A\" (USD) ACC","BK4082":"医疗保健设备","BK4585":"ETF&股票定投概念","BK4567":"ESG概念","LU2177674079.SGD":"Fidelity Asia Pacific Opportunities A-ACC-SGD (hedged)","BK4588":"碎股","BK4504":"桥水持仓","RMD":"瑞思迈"},"translate_title":"还不需要您所需的最低分配（RMD）？以下是您可以利用现金流入做的事情。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RMD":1},"content_text":"The deadline is rapidly approaching for some retirees to take required minimum distributions (RMDs) from certain retirement accounts. \n\n\n\n\n\n\n\nRMDs now start at age 73 and typically need to be withdrawn by Dec. 31 each year.\n\n\n\n\n\n\n\nIf you don’t need the cash from your required withdrawals, you can put that money to work in smarter ways.\n\nRequired minimum distributions (RMDs) are the minimum amounts you must withdraw each year from certain retirement accounts to stay on the good side of the IRS. These accounts include traditional IRA, SEP IRA, SIMPLE IRA, and other pre-tax retirement plan accounts.As of now, you're required to start taking RMDs at age 73 so you can start paying taxes on those withdrawals. However, if you're part of a workplace plan like a traditional 401(k), you may be able to delay your enrollment until the year you leave the workforce. If you don't need the extra cash flow from your RMDs, those withdrawals might feel like a big headache. Worse, they could even bump you into a higher tax bracket. But don't worry -- there are smart ways to make the most of your RMDs. Here are two options that are worth considering.Image source: Getty Images.1. Put your money to workIt might be tempting to withdraw your RMD and let it sit idle in a checking account. But why stop your money from working for you? Instead, consider reinvesting it in a taxable brokerage account so your funds can continue to grow.Let's say you invest in dividend-paying stocks. You'll owe taxes on the income you earn, but you'll be able to build a steady stream of dividend income that potentially pays you every month. Or you can invest in growth stocks and ride the wave of capital appreciation.Want to spread your risk? Consider exchange-traded funds (ETFs), and you'll have instant diversification.If you're still earning income from side gigs or other work, you can use your RMD money to fund a Roth IRA if you qualify.2. Determine if a QCD is right for youNot feeling up to managing your RMD? Maybe you'd rather put that money to good use supporting others. A qualified charitable distribution (QCD) might be your cup of tea. If you're 70 1/2 or older, you can use a QCD to satisfy your RMD and support your favorite charity without itemizing deductions.The best part? It won't bump up your taxable income. The money has to go straight from your IRA trustee to the qualified charity, though, to remain tax-free.For 2024, the tax-free charitable donation cap through QCDs has climbed to $105,000. If you're married, you and your spouse can donate up to $210,000 combined -- as long as you have separate IRAs and check the box on the requirements.Pay attention to the deadlines so your RMD can count for the current year. Also, grab a written acknowledgment of your contribution from the charity before filing your tax return. What happens if you don't take your RMD?Not needing your RMD is one thing, but not taking it? That's a whole other story -- and can cost you a pretty penny. Whether you've got cash to spare or not, Uncle Sam still expects you to take your RMD before the deadline. If you miss it, you'll face a penalty tax of up to 25% on the amount you skipped.To avoid this penalty, make sure you know the rules, and calculate your RMD correctly. Some financial institutions might handle this for you, but it's always a good idea to double-check their math.RMDs now kick in at age 73, with most due by Dec. 31 each year. If you turn 73 in 2024, your first RMD deadline is April 1, 2025. And you'll need to take your next RMD by Dec. 31, 2025.If RMDs are on your to-do list, make sure to plan ahead so you can put that money to work and make the most of it.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492540416"}