Essential Tips for Navigating Required Minimum Distributions (RMDs)

Retirees must start taking required minimum distributions (RMDs) from pretax retirement accounts at age 73, with the first deadline on April 1 of the year after turning 73. Delaying the first RMD can result in two withdrawals in one year, potentially increasing adjusted gross income and triggering higher taxes or Medicare premiums. Financial experts advise careful planning to manage tax implications and consider income projections for future years.