New RMD age increases to 73 in 2023. Is it actually a win for retirees? [Radio Show]

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    Golden Reserve

My RMD (Required Minimum Distributions) IRA, SIMPLE IRA, SEP IRA written in a notebook.

The new law raises the Required Minimum Distribution (RMD) age in two steps. The RMD age increases to 73 beginning in 2023. In 2033, the RMD age will further increase to 75. Folks born between 1951 and 1959 will need to start their RMDs after age 73. We’re told this is a good thing. But is it? Greg explains who wins in this scenario and how there may not be a pot of gold at the end of the retirement rainbow, but rather, an oversized tax bill. Click play below.

Full Episode:

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