I have a couple of inherited IRAs which which together make up about 40% of my after-tax monthly "income". ( I am 62.5 yo, and have had these iIRAs for four years, so I can stretch the distributions over my lifetime.) The other 60% comes from the dividends earned on my taxable accounts.
In the past couple of years, I have taken the RMDs in 12 monthly distributions, deposited to my every-day checking account less some income tax withholding.
Now I am rethinking that, especially with the current market (the length of the current run is a bit concerning). I am considering instead taking the RMD now, as a single payment rather than as monthly payments as being .... less "risky" approach? I'm flailing here ...
Thoughts? Am I overthinking this? Clearly if the market tanks I will have to sell a whole lot more shares to meet my RMDs, so by taking the RMD now and selling fewer shares am I being "safe?"
Thanks!
In the past couple of years, I have taken the RMDs in 12 monthly distributions, deposited to my every-day checking account less some income tax withholding.
Now I am rethinking that, especially with the current market (the length of the current run is a bit concerning). I am considering instead taking the RMD now, as a single payment rather than as monthly payments as being .... less "risky" approach? I'm flailing here ...
Thoughts? Am I overthinking this? Clearly if the market tanks I will have to sell a whole lot more shares to meet my RMDs, so by taking the RMD now and selling fewer shares am I being "safe?"
Thanks!