Withdrawing minimum amounts for IRA and retirement accounts before the end of the year [Video]

WAUSAU, Wis. (WSAW) – As the end of the year is quickly approaching it’s time to start thinking about those retirement plans as some require some effort on your part. For example, required minimum distributions or RMDs.

Private Wealth Advisor Kailey Berendsen with Buska Wealth Management joined NewsChannel 7 at 4 p.m. to discuss what that means. It means the minimum amounts that IRA and retirement plan account owners generally must withdraw annually.

Watch the attached link to learn the answers to the following questions.

What is an RMD?

When do I have to take it?

What type of accounts qualify for RMDs?

How do I know how much to take out?

What if I have multiple IRAs or retirement plan accounts?

What happens if I don’t take my RMD?

Are there any special rules if I inherit an IRA regarding RMDs?

NOTE: Advisory services are offered through Buska Wealth Management, LLC, an SEC Investment Advisor. Insurance products and services are offered through Buska Retirement Solutions, Inc., an …