The Downside of Delaying RMDs

Thanks to the SECURE 2.0 Act, the age for required minimum distributions is going up. However, don't automatically assume you'll benefit from this change.

Required Minimum Distributions written on notebook
(Image credit: Getty Images)

It took more than four decades for Congress to raise the age for required minimum distributions in 2019 from 70½ to 72. But just three years later, it has been raised again. The SECURE 2.0 Act of 2022, which was signed by President Biden on December 29, aims to make it easier for Americans to save for retirement by, among other things, raising the RMD age to 73 on January 1, 2023, and then to 75 on January 1, 2033.

Having three more years of tax-deferred growth in your retirement savings accounts, however, is a mixed bag. "Everyone likes when you delay RMDs," says Ed Slott, president of Ed Slott and Co., which provides IRA training to financial advisers. "But waiving RMDs or putting them off doesn't help most people."

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Senior Retirement Editor,

Jackie Stewart is the senior retirement editor for and the senior editor for Kiplinger's Retirement Report. 

With contributions from