Understanding RMDs: A Guide For Retirees & The Soon-to-Retire

10/19/23 • 19 min

Another Day In Retirement Paradise with Eric Judy

Are you over 55 and pondering retirement? Dive into the world of Required Minimum Distributions (RMDs) with us. In this episode, we demystify the reasons behind mandatory withdrawals from your retirement savings.
Here are a few of the things you’ll learn in this episode:

What are RMDs and why are we required to take this money out?
Is there any way to avoid taking RMDs?
What are the biggest risks you face by not planning in advance?
If you don’t need the money for income, what else can you do with your withdrawals?

Connect with Eric Judy online at https://www.judyfg.com/ or by calling 217-303-1711. You can also book a complimentary review at https://calendly.com/ericjudy

What are RMDs and why are we required to take this money out?
Is there any way to avoid taking RMDs?
What are the biggest risks you face by not planning in advance?
If you don’t need the money for income, what else can you do with your withdrawals?

Connect with Eric Judy online at https://www.judyfg.com/ or by calling 217-303-1711. You can also book a complimentary review at https://calendly.com/ericjudy

Previous Episode

Are There Universal Retirement Truths?

Retirement is a unique journey for each of us. The thought that there's a one-size-fits-all solution is a myth, but what if we told you there are certain universal truths that can guide every retiree?

Dive deep in this episode, where we juxtapose the individuality of retirement plans with the foundational principles that remain consistent across the board.

So don't miss out on this episode as we equip you with the knowledge you need to confidently plan for another day in retirement paradise.

Here are the retirement truths we’ll break down in this episode:

Why everybody needs an income plan.
Everybody needs a plan to address long-term care issues.
Nobody can consistently time the stock market successfully.
Nobody knows how long they’re going to live.
Emotions can be an investor’s worst enemy.

Connect with Eric Judy online at https://www.judyfg.com/ or by calling 217-303-1711. You can also book a complimentary review at https://calendly.com/ericjudy

Next Episode

Retirement Planning’s Hidden Questions

On this episode, we’re going to tackle these questions that might not get much attention ahead of retirement but are essential to success in that next chapter of life. Much of what we’ll take you through will affect the key areas of planning so make sure you’re asking these questions well ahead of the day you want to retire.

Here’s are the questions we want to address today:

How much are my tax-deferred savings going to cost me in taxes?
How much can I withdraw from my savings each year?
Should I still have life insurance when I’m retired?
What kind of medical coverage will I need over and above Medicare?
How much am I really paying in fees and commissions?

Connect with Eric Judy online at https://www.judyfg.com/ or by calling 217-303-1711. You can also book a complimentary review at https://calendly.com/ericjudy