Are you approaching age 72 and preparing to take your first required minimum distribution (RMD) from your retirement account? An RMD is the minimum amount that you have to take out of your retirement account each year. If you fail to take it at the right time or take the wrong amount, you could face hefty penalties!
It’s important to pay close attention as the laws surrounding RMDs changed under the SECURE Act in 2020 and are changing again in 2022 with updates to the uniform life expectancy table.To ensure you take your RMD correctly, download “Calculating Your RMD in 5 Easy Steps.
”Have more questions about your retirement account distributions? Contact RFG Wealth Advisory at 940-464-4104.
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