AGE 70+ | Required Minimum Distributions (RMD’s) Have Changed

January 5, 2023

2 minute read – Expert, Ed Slott sets the record straight on SECRURE Act 2.0 and what it means to Required Minimum Distributions (RMD’s).

According  to Ed Slott, a CPA, IRA expert, we need to try and pay attention to what the changes to the RMD age(s) are:

  1. The increase in the required minimum distribution age to 75 will be phased in over a decade.
  2. The RMD age is now 73 under the new law, “but only for those who will be 72 this year or later, anyone already taking RMDs must continue.”
  3. The best way to understand this provision, which has caused some wonderment? “Use age 72 if born in 1950 or earlier (before 2020 the age was 70 ½);
  4. Use age 73 if born 1951-1959;
  5. Use age 75 if born 1960 or later.


So why all of the fuss over RMD’s? Well, it’s a forced distribution from an IRA or qualified retirement plan, which means we must pay the taxes upon receiving it (in that tax year). Planning ahead is good stewardship, not only to account for the taxes due ahead of time, also, its a great time to consider what we would like to do with the net amount of this RMD. Examples of what to do with this: Spend it on yourself!  Set-up some type of plan for your grandkids. Contribute it to a favorite church mission, charitable organization or other non-profit organization.

Know Your Charity’s Financial Accountability & Strength:

It wasn’t too long ago that a major, well-known charity was exposed for their mismanagement of funds. Only twenty-cents on each dollar actually made it to what they were built to do! I’ve found Charity Navigator to be a helpful application and system to review all the charitable organizations I come across. Not everyone ‘plays’ with this organization, which may not be a bad thing. Just good to know.  See 

Contact: [email protected]