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RMD's & Secure Act 2

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    RMD's & Secure Act 2

    Read in a recent financial publication that raising the RMD age to 75 (this year) is being discussed in congress and may happen thru house and senate
    reconciliation of a Secure Act 2 omnibus spending bill, after the 2022 elections - but before year end.
    Wondering if I'm reading this right. Anyone else read anything about this ?

    #2
    Funny how while life expectancy for U.S. citizens goes down, additional tax cuts targeted at a very easily identified, homogenous group of wealthy taxpayers are based on a false narrative that it is going up.

    I've always thought that it's better to spread out taxable income over more years, rather than compress it into fewer and thereby reaching higher marginal tax rates. I'm not yet to RMD age, but I'm mostly acting as if I am, and I've also taken retirement annuity income at earlier than "full" age, because I can always just re-invest any of it I don't need (hello, Roth conversion!), but meanwhile I'm reducing future tax liabilities now, while rates are historically low, and spreading them out in a more level, predictable manner.

    NYEA in another post stated that there is little point in discussing or debating tax proposals that are not yet law. I agree, but on the other hand, it is a slower time of the tax year for professionals right now, and it's not like this board is being flooded with specific requests for help with current tax problems/questions.
    "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard

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