Stressing About RMDs? Two Ways to Reduce or Even Eliminate Them

If looming taxes on required minimum distributions (RMDs) are keeping you awake at night, consider transferring money to a QLAC or converting to a Roth IRA.

An older couple in a convertible wave goodbye as they drive away.
(Image credit: Getty Images)

Now might be a good time to start thinking about how RMDs, or required minimum distributions, might affect your retirement, tax situation and perhaps the legacy you hope to leave your loved ones someday.

Recent legislation with new RMD rules has increased the age at which you must begin taking annual RMDs from your 401(k), IRA or other qualified retirement plan to age 73. By 2033, that age will increase to 75.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Stefan Greenberg, CFP®, CFS, CLTC
Managing Partner, Lenox Advisors

Stefan Greenberg is a Managing Partner who has been with Lenox Advisors since 2005. Stefan is responsible for working with both corporate and high-net-worth individual clients of the firm. He specializes in comprehensive financial planning, wealth management, estate planning and insurance services for individual clients. Additionally, he helps businesses attract, reward and retain top-level employees through the use of tax-efficient techniques.