For people who are retired or getting close
RMDs Made Simple
What happens to your IRA in your seventies
Understand the rules and deadlines before your first required withdrawal.
Free · 35 minutes on Zoom · Wednesday, November 11 at 12:00 PM Eastern
A quick note from Mike
Here's what I see a lot. People reach their seventies with an IRA or a 401(k) and aren't sure what the rules are. When does the first withdrawal have to come out? How much? Does it apply to every account? In 35 minutes, we'll walk through how required withdrawals work, step by step. You'll leave knowing what to ask and when to ask it.
What to expect
35 minutes.
We start on time and end on time.
Clear Explanations.
If we use a term, we explain it.
Know Your Deadlines.
When your first RMD is due, and why the first year works differently.
Who this is for
This class is for you if:
- You're turning 73 in the next few years, or you already take RMDs.
- You have a traditional IRA, 401(k), 403(b), or similar account.
- You have more than one retirement account and aren't sure how the rules apply to each.
This class isn't for you if:
- You want tax advice for your own situation. We explain the general rules. Your tax professional handles your return.
- You want a recommendation today. We don't recommend anything until we understand your situation.
What you'll learn
The rules.
Which accounts have required withdrawals and which don't. When they generally start, and why your first one has a different deadline.
The math.
How the amount is figured: last year's ending balance divided by an IRS factor. One simple example, step by step. Plus what changes when you have more than one account.
How it fits your income.
What to do if you don't need the money. What happens if a withdrawal is missed. How it can affect taxes on Social Security and Medicare premiums. How annuities held inside an IRA are treated.
Your host
Mike Bouma
Licensed Insurance and Retirement Professional, Jacobs Financial Services
Mike Bouma is an Insurance Producer specializing in retirement planning for Jacobs Financial Services LLC. Mike’s passion for helping clients develop a plan to achieve a confident and simple retirement is evident in his career in the insurance and financial services industry spanning more than two decades.
Mike holds his bachelor’s degree in Business Administration from Eastern Michigan University and is a licensed insurance producer in Michigan. He has been married to his wife, Beth, for over 28 years and is the proud father of four fantastic children. When he is not working, he can usually be spotted in the stands cheering on his children’s sports teams.
Frequently asked questions
Why is this class free?+
Education is how we start every relationship. You can attend, learn, and leave. There's no cost and no obligation.
Is this a sales presentation?+
No. This is a class about how RMDs work. We are licensed insurance agents, and we'll explain how annuities held in an IRA are treated under RMD rules. We won't recommend a product during the class. At the end, we'll share how to schedule a Retirement Distribution Review if you'd like one. That part is optional.
Do I need to be 73 to attend?+
No. Many people attend a few years before their first RMD. Knowing the rules early gives you more time to plan.
How do I join?+
After you register, you'll get an email with your Zoom link. We'll send a reminder before class starts. You can join from a computer, tablet, or phone.
Save your seat
Free · 35 minutes on Zoom · Wednesday, November 11 at 12:00 PM Eastern