What to do with RMD's you don't need

There are several smart moves you can make to minimize tax liability.

There are almost 75 million Baby Boomers—those born between 1946 and 1964—in the U.S. today. Approximately 10,000 of them retire each day. That's a lot of potential people taking required minimum distributions (RMDs) who may not need them. Fortunately, there are several smart moves you can make to minimize tax liability. If you don't necessarily need the money from your RMD and want to minimize the taxes they generate, consider the following seven strategies on my blog: What To Do With RMDs You Don't Need Or Want My thoughts on why health care planning is important: While there are a lot of things that impact inflation from period to period, the headline "U.S. Core Inflation Exceeds Forecasts as Medical-Care Costs Jump" is focused in on the rise in healthcare costs and serves as an important reminder of why healthcare planning is important. Strategic use of a HSA can go a long way, but it's also important to focus on building an emergency fund for unexpected healthcare bills Finally, recognize that health insurance costs continue to rise and employers are typically increasing employees' share of the rising costs "Peter's book is solid. It covers the major areas of financial planning with sufficient detail to build a solid foundation. The charts, tables, and examples are helpful and easy to understand. This is a great resource for anyone that is getting started in organizing their financial house." - J David Stein via Amazon Thank you, David, for the kind words! If you feel like you need a framework that makes the right choices in your finances simple and easy to make, check out my book Making Money Simple. It would be a great book to have handy over the holiday to read and start setting a plan in motion for your finances in 2020. To Making Money Simple, Peter

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Peter Lazaroff, P.O. Box 440113, Saint Louis, MO 63144, United States