Life can change in a moment. One day my family became a family with a special needs person. I had been out of the country (and at that time relatively out of touch without cell phone connections) and arrived home to hear increasingly troubled voice mails. “Call your brother.” “Call your brother the second you get home.” “Call your brother at the hospital!”
Create a Larger Legacy Using Required Minimum Distributions
Are you facing the situation where you have to start taking required minimum distributions from your qualified accounts but you don’t need the income for retirement? If this is the case, congratulations to you. You planned and saved well. And now you are faced with a financially comfortable retirement. But as age 70 ½ comes closer, you know the Internal Revenue Service is going to require you to start taking distributions from your qualified accounts, whether you need the income or not. What to do?