Mandatory Distribution from IRA after age 72

click here: Leave a text, tell us what you likedJust turned 72, consider something new.  You must start paying back the taxes that you have deferred over the years.  There is no truly free lunch as some would say.  What the government giveth the government takes away.The IRS has a table that tells you how long you are likely to live a your age.  They also tell you how to determine the amount they want each year which is based upon your age and the total in your funds.      The mandatory distribution only affects funds that were not taxed when earned.  IRA, SEP IRA, 401(k) etc. This podcast discusses what this is all about and who must comply, when, and how.  It also recommends that you visit our website RetireCoast.com and read our articles about filing your Senior 1040 form and another article about tax planning Support the show🎙️ Enjoyed This Episode?Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.📋 Looking for more advanced planning resources?Explore our membership programs:• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.• All Access Membership — Receive complete access to both memberships and our entire premium planning library.Learn more at:https://retirecoast.com/estate-planning-membership/https://retirecoast.com/business-builder-membership/https://retirecoast.com/all-access-membership/💬 Have a question or a topic you'd like us to cover?Email: [email protected]...