QCDs: Who They’re For, How They Work & Key Benefits
Are you looking for ways to make the most of your retirement savings while also supporting a cause you care about? In this episode, Erik dives into the ins and outs of Qualified Charitable Distributions (QCDs), a smart financial strategy that allows retirees to fulfill required minimum distributions (RMDs) while reducing taxable income.
You'll learn exactly how QCDs work, who they’re best suited for, and the key tax benefits they offer.
By directing your RMD straight to a charity, you can skip the tax hit and even avoid potentially higher Medicare premiums. Erik also explores why QCDs may be ideal for retirees with ample assets, as well as the limits and requirements involved. Tune in for clear insights into how QCDs might fit into your retirement strategy!
Here’s what we discuss in this episode:
0:00 – Intro
1:34 – How QCDs work
4:19 – When does it make sense to do this?
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Investment Advisory Services offered through CreativeOne Wealth, LLC, a SEC registered investment adviser. CreativeOne Wealth, LLC and Bowman Financial Strategies are unaffiliated entities.
Licensed Insurance Professional. We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. 19770 - 2020/2/10
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