Required Minimum Distributions & Social Security - AMAC & The Motley Fool
Required Minimum Distributions (RMDs) are the one drawback to retirement plans like the 401k and traditional IRAs. While the law was recently changed to increase the age that RMDs must begin to 72, the distributions can push people’s income up such that their Social Security benefits become taxable. Maurie Backman explains the thresholds for taxation and how to avoid RMDs altogether in this article. Read the full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.