Avoid Locking in Losses With RMDs at 72 – Crucial Tips
Monday, 16 September 2024, 11:00
Strategies to Manage RMDs
At age 72, many face a dilemma: your stocks are down, and Required Minimum Distributions (RMDs) are looming. Here are some strategies to consider:
- Don't Panic: Selling off stock in a down market can lock in losses.
- Consider Other Income Sources: Withdraw funds from savings or bonds instead.
- Consult a Financial Advisor: Seek tailored advice to fit your circumstances.
Evaluate Your Portfolio
It’s crucial to analyze your portfolio allocation. Maintaining a diverse portfolio can help mitigate risks. Focus on gaining a broader understanding of what adjustments may be beneficial moving forward.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.