[Jason]

Who should I listen to about what to do with required minimum distribution money that is not needed. Anyone got some good articles to read?

I am wondering what steps to take regarding unused required minimum distributions (RMDs) from my retirement account. I’ve reached the age at which I must start withdrawing RMDs, but I have not withdrawn the full amount that I am required to.

I’m concerned about the tax implications of leaving the RMD portion unused or not withdrawing it properly.

Could anyone guide me on who I should consult in this situation? Should I speak with a financial advisor, a tax professional, or someone from the institution that holds my retirement account?

What are the potential consequences of not withdrawing the required amount?

I want to ensure that I stay compliant with tax laws and avoid any penalties, but I’m unsure who can provide the best guidance on this matter.

Any advice or recommendations for professionals to consult would be greatly appreciated.

[Rick]

Do you have Roth IRA availability? If so, it should likely go there.

[Frank]

If you don’t need the money, it sounds like prime QCD money to me.
But are you really being honest with yourself?

Most of the time I hear people say “I don’t need the money”, they are actually extremely attached to the money and making sure it grows until they are dead.

That is how lots of “I don’t need the money” people actually keep score in life.

How do you keep life score? Allocate the money to score some points on whatever that metric is.

[Elizabeth]

Is this from an inheritance? I just took my first RMD from an inherited IRA, and put it into my own brokerage account to invest.

I’m prioritizing me on this one, and am not willing to share it if my marriage goes away

As for reading materials, I couldn’t find one when I searched.

Good luck

[Christopher]

You should listen to you. I mean, I can tell you that I know a guy (me) who could definitely help lighten your wallet if it’s too heavy or whatever, but that’s not particularly useful for you

Look into QCDs (qualified charitable distributions) if you’re charitably inclined, otherwise it’s just money, and should be treated just like any other surplus of funds (whether that’s gifted, donated, spent, or reinvested). Use it to further whatever goals you have personally.

[Bill]

He can always give it away if he wants to support a charity. Or he can gift it to grandkids. Or he can just invest it again in a brokerage account.

And I know you say it’s not needed, it that doesn’t mean it can’t be fun money.

Subsidize a family trip/reunion or something.

There is absolutely nothing wrong with just paying the deferred taxes and having some fun with the money he earned.

[Author]

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