What is a Required Minimum Distribution?

• A required minimum distribution (RMD) is the minimum amount of money you must withdraw annually from your retirement plan account when you reach the age of 73.

When do I have to take a RMD?

• You must take your RMD annually once you reach the age of 73.

When can I turn on social security?

• You can start receiving your Social Security benefits as early as age 62, however, you are able to apply up to the age of 70. The longer you wait to apply, the higher your monthly benefit will be whereas the earlier you receive your benefits, a small percentage will be deducted from each monthly payment before your full retirement age.

How much will my social security benefit go up each year if I delay it?

• Depending on your age, your social security benefit can be increased by 5-8% and can significantly increase your lifetime benefit.

What is a deferred annuity?

• A deferred annuity provides the advantage of accumulating funds over time while benefiting from potential interest growth.

What is a brokerage account?

• A brokerage account in an investment account that allows you to buy and sell securities such stocks, bonds, and mutual funds.