Vera Capital Management

FACT or FICTION: The Required Minimum Distribution Age Will Continue to Increase

FACT: Americans now don't have to start taking required minimum distributions (RMDs) until the age of 73. Previously in 2019, the age was raised from 70 1/2 to 72 and in 2033 the RMD age will likely increase again to 75.

What does this mean? Retirees can postpone withdrawing from their retirement accounts longer if they so choose.

(Source: MSN)

Knowing when you want to retire and the lifestyle you wish to live are important goals and ultimately what your retirement planning needs are based on.

Retirement planning has five steps: knowing when to start, calculating how much money you'll need, setting priorities, choosing accounts, and choosing investments.

Work with an advisor who will ask the right questions to help create your own retirement blueprint.

(Source: Nerd Wallet)