It’s a bit tough to keep up with all the changes that have come to Required Minimum Distributions, or RMDs, which started back in 2019 with the original SECURE Act. However, there are 3 significant changes that went into effect January 1st of 2023. Sean Tole with Davis Wealth Management and Erin Kennedy lay out and explain each change, including:

1. The Starting Age Has Increased Again
2. Lower Penalties if You Miss Taking your RMD
3. Inherited Retirement Accounts

Keep in mind, you can correct an RMD mistake, but it’s best to avoid those missteps if possible, which is why proactive planning is so important. If you’d like to talk through these changes to Required Minimum Distributions and how they affect you or your beneficiaries, please feel free to reach out to Sean by calling 603-715-2335 or by visiting www.DavisWealthMGMT.com