Most Frequent Questions About Retirement: When do I have to take an RMD?

Catholic United Financial, a Trusted Fraternal Life brand > Education > John Tetzloff > Most Frequent Questions About Retirement: When do I have to take an RMD?

“When do I have to take an RMD?” Make a plan for an RMD before your 70th birthday and things will work out fine.

At age 70 1/2 the federal government requires you to begin taking money out of your IRAs through Required Minimum Distributions (RMDs). Consolidating multiple IRAs into one guaranteed interest IRA can make things less confusing. Also, understanding how taxes come into play will certainly help in determining income.

Having your RMD go directly to a charitable organization through a Qualified Charitable Donation (QCD) can reduce your taxable income and thus increase your net income after taxes.

Catholic United Financial offers our members free assistance to set up a QCD plan to maximize their charitable giving. Contact your local Member Advisor for more details. Also, more charitable giving options are available through our non-profit Foundation. 

Creating Wealth Beyond Money Blog

Wealth is a mindset that combines the material and spiritual — rooted in knowledge, wisdom and trust

 

by John Tetzloff
Advanced Case Specialist

Please Note: Catholic United Financial became a Trusted Fraternal Life brand on Jan. 1, 2025. Due to this merger, some insurance, retirement products and programs mentioned on this page may have been replaced with new options. Please call 1-800-568-6670 to discuss your product options with a Member Advisor, or visit this page to learn more.

Catholic United Financial and John Tetzloff are not permitted to give tax or legal advice. The information given is based on our understanding and interpretation of laws and regulations currently in effect. You may wish to consult your personal tax or legal advisor with questions about your specific situation.