Required Minimum Distributions 1

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M Life stages require changes in our financial behavior.  I’m at that age where I am required to take funds from my IRA.  I benefit from Valeries council.

V In the year you turn 70.5, you’re required to begin withdrawing traditional IRA funds whether you wish too or need to. That’s called the required minimum distribution or RMD. Mom’s a saver, so that’s not welcome news to her. One benefit is to do your charitable giving through the RMD. Giving appreciated assets in your IRA, or authorizing them to be sold and the proceeds donated to your church or favorite charity can save you the taxable event of income. 

M I love knowing that the whole value goes to my favorite church and charities.