I am not sure where I will get the best return on my money. The fund that holds my RMD is also value share based. If the value goes down I can lose and I am taxed when I withdraw any amount. I currently am trying to build some cash in an interest account that gives me 1%
I have been reinvesting my RMD to a fund that held my IRA. Should I leave it there or put it into an interest earning account?
If you are not itemizing deductions on your 1040–or if you are and everything except charitable contributions is less than the standard deduction, have your trustee send your RMD to make charitable contributions. If you do that you don’t have to report the amount as income and thus get a deduction through the back door. It also doesn’t count in determining how much of your Social Security is taxable.
This thread has been closed. Have a financial question? Log in and ask our community!