I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

Yay! I love that the Government can step in to help families squander family wealth! That's how we'll always have the poor; and that's how the largesse will never experience the American Dream.

Wtf how confusing My dad passed away recently, left most to my mom, but did give me a small portion of his ira accts.. My tax rate is also way lower now than my mom's. I guess I'll just take ten percent out per year minimum now. As if the sadness with his death and convoluted estate aren't enough. Simple enough for my mom as she has strict rmd rules.

They dont persecute it. They send a letter asking you to address the issue. You then take an RMD and show them the paperwork. They are just not interested in prosecuting mostly retired folks...

What if the original (deceased) IRA owner, say age 75,did NOT take RMDs or did not in their last year of health struggles?

WHY does this rule apply to ROTH IRAs where the government gets NO taxes from it at all? Beneficiaries should be able to leave it where it is forever and not be subject to a 50% penalty because they are unaware of this bs rule

? The IRS canceled the waiver tax for 2021 to 2024 - bottom line you have 10 years to zero out the account starting after the year the person dies. Take some every year to avoid getting crushed In taxes on the 10th year

Thank you my friend! This clarifies the crazy unclear language the IRS put out. So are you saying that we should take go back and take an RMD for 2022 taxes (I'm working on mine now), or that it's unclear if this is actually required. I think you're saying the latter -- just checking! Thanks so much for this awesome video!

My financial advisor forgot RMD in 2021 tax year . Figured it out if get penalty happy to pay and get a cheaper fiduciary and save .

Do the new rules in 2022-53 create a way to settle an inherited IRA from before the "Secure act" that never had an RMD taken without the 50% penalty? What am I missing?

What if you pass away before the required rmds..what happens to money...

My inherited IRA was in calendar year 2022. Since the IRS doesn't have a complete ruling on this, doesn't this just get grandfathered to the old rules?

Im 41 and just lost my father April 29 2022. I completed my father's RMD before Dec 31 2022 and it is with my understanding that I have until Dec 31 2023 to take my first RMD. My main question: I was told by my brokerage firm that I can transfer existing stock /fund positions from inherited IRA to my taxable retail account to satisy RMDS. The brokerage firm said that the value of the stock position would be counted as income at the time of transfer and the cost basis on the position would be readjusted to the value of the position at the time of transfer. The Secure Act doesnt encourage deferred growth so I just want to verify this is correct. I have the account set up as a dividend portfolio in which I can take monthly payments that would exceed the annual RMD while the principal fluctuates in value but I dont want an expensive tax bill in year 10. Or should I just take monthly payments and empty the account out in years 5 to 10? I work on commission which doesnt help my tax situation. Some years I make more than others as a 10-99 independent contracter

Thank you for the information! So when do you have to take your first RMD? For example, if the owner if the IRA I inherit dies on March 1st, 2024 - do I need to take the RMD in ‘24 or ‘25? Thank you.

What is the age basis for the RMD? The decedent's would be age?

Thx for the vid. Very insightful. So my father passed this year. I received an inherited IRA. He hadn't taken his RMD this year. Over age 75. I understand that I need to take that RMD for this year. My main question is that for the following 1-10 years is there an RMD, or do I fall under the area of the account needs to be zero'd out by the end of year 10 and that's it. Thanks!

50% WT..🤬

if there no penalty for not taking the rmd in 2021-22 why would you take it? what can they do about that?

Is a RMD something you need to take out with both Roth and Traditional IRAs?

Are RMDs required for an inherited ROTH IRA from a parent as a designated beneficiary?

If Grandpa lists 3 beneficiaries, 33%, 33%, 34%, does each benificiary have to take RMD? Or is it divided by 3 after distribution?

Is it possible that all this can be avoided by just taking everything out the first year it's inherited?

How does it work for an older inherited IRA that I have been taking distribution since 2012? Do i still get to stretch it out?

So my mother at age 85 inherited an IRA from my brother. He was 58. Does she then just need to deplete the IRA within 10 years? That was my assumption and she has not taken any money out so far.

If I inherit my moms IRA upon her death what RMD rate is used for distribution to me. The RMD my mom was using of an RMD rate I would use or is there a different chart?

What if you have inherited an inherited IRA?

Mine will soon all be in a ROTH, so no RMDs during my lifetime (for now, at least). 1. When I die, will my kids have to start RMDs? 2. Will they have to take the funds out of my ROTH proportionally for each year (10% each year for 10 years), or can they wait and take it all out in the tenth year after my death?

🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔

Not really a big deal you should be taking money out every year so in year 10 you don’t get smoked in taxes

Hyperbolic much? It's not that complicated.