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Podcast: Retire Today
Episode: The 5 Biggest RMD Mistakes in Retirement
Description: Jeremy Keil explains the 5 RMD (Required Minimum Distribution) mistakes in Retirement and how to avoid them.
A retiree recently called for help.
It was their first year taking Required Minimum Distributions. They had delayed their first RMD until April of the following year — which meant taking two distributions in one tax year. That part was allowed. In some cases, it can even be strategic.
But when they called their IRA custodian and asked, “How much should I withhold for taxes?” they were given the default answer: 10% federal withholding.
They assumed that must b...