Ask Terry Questions QCD and RMD


By Terry Savage on September 26, 2023 | Financial Planning / Retirement

Hi Terry – Next year I will have to take my RMD since I’ll be 73. Over the last few years I have been drawing money out of my IRA as a combination of simple withdrawals as well as contributing to my charities via QCD’s. Somewhere I read that at 73 you must withdraw your RMD amount before you can take additional money for QCD’s. In money magazines I’ve read conflicting articles. Next year Ill be taking about $45,000 for my RMD. Is is true I can only distribute money to charities only after the $45,000 number is met? Confused! BTW – Keep up the great work!!

Terry Says

Where did you get all that mis-information?
Read this explanation from the Fidelity website:

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