About That Wallet Live

In this episode, we dive deep into the intricacies of Required Minimum Distributions (RMDs) under IRS codes 72T and 72Q. These codes outline specific rules for withdrawing funds from qualified retirement plans, such as 401(k)s and IRAs, to avoid penalties.

Key Points:

//RMDs are mandatory: Most people must start taking RMDs from their retirement accounts after turning 73.

//72T can help avoid RMDs: By following the 72T rules, you may be able to take withdrawals without triggering RMDs.

//Understanding RMDs and 72T is important: Knowing the rules can help you make informed decisions about your retirement savings.

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DISCLAIMER: The content in this audio is for educational purposes only. Conduct your own research and make the best choice for you. If you need advice, contact a qualified professional.

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