{"id":42875,"date":"2023-02-09T15:08:00","date_gmt":"2023-02-09T20:08:00","guid":{"rendered":"https:\/\/ilgfinancial.com\/staging\/2370\/?p=42875"},"modified":"2023-02-09T15:08:37","modified_gmt":"2023-02-09T20:08:37","slug":"chases-pick-the-downside-of-delaying-rmds","status":"publish","type":"post","link":"https:\/\/ilgfinancial.com\/staging\/2370\/chases-pick-the-downside-of-delaying-rmds\/","title":{"rendered":"Chase’s Pick: “The Downside of Delaying RMDs”"},"content":{"rendered":"

\"\"Article published by Kiplinger.com<\/a><\/em><\/p>\n

Written by Jackie Stewart<\/em><\/p>\n

“It took more than four decades for Congress to raise the age for required minimum distributions\u00a0in 2019 from 70\u00bd to 72. But just three years later, it has been raised again. The\u00a0SECURE 2.0 Act of 2022, which was signed by President Biden on December 29, aims to make it easier for Americans to save for retirement by, among other things, raising the RMD age to 73 on January 1, 2023, and then to 75 on January 1, 2033.”<\/p>\n

“Having three more years of tax-deferred growth in your retirement savings accounts, however, is a mixed bag. “Everyone likes when you delay RMDs,” says Ed Slott, president of Ed Slott and Co., which provides IRA training to financial advisers. “But waiving RMDs or putting them off doesn’t help most people.”<\/p>\n