audreyh1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
The way I look at it, they'll just require larger withdrawals (and taxes) to be paid whenever RMD's are started at later years.
My RMD's are slated to start next year, and I'll have to withdraw more than my annual personal expenses. And I'll also have to start paying state income taxes too. The RMD's are going to kick us up into a higher tax bracket anyway.
I assume we'll just reinvest much of the RMD's elsewhere.
I think it’s very likely they will continue to use the same tables which are based on life expectancy. Yes, if you start later you take out a bit more. They didn’t include new tables to further accelerate withdrawals for those starting later.
If it passes as is, you’ll get to wait one more year.