Tax Policy - Most states offer at least one tax break to retirees [1] - Some states exempt multiple forms of retirement income [1] - Eight states have no income tax at all [1]

RMD Essentials - The taxes on funds in tax-deferred accounts like 401(k) are delayed, not avoided, and income taxes are due upon withdrawal [4] - Required Minimum Distributions (RMDs) start at age 73, preventing indefinite tax-free growth of retirement savings [4] RMD Rules - RMD rules are strict, and withdrawals before RMDs do not reduce future RMD amounts [5] - Excess withdrawals after RMDs have begun also do not directly affect future RMD calculations [5] Impact of Withdrawals - Taking withdrawals now or later in excess of RMD amounts can lower the account balance, which in turn reduces future RMDs [6] - Withdrawals are taxed as normal income regardless of when they are taken, making early withdrawals potentially beneficial if a higher tax bracket is anticipated post-retirement [6] Additional RMD Strategies - Working after retirement may allow for the delay of RMDs, applicable only to current employer's 401(k) plans [7] - RMDs must still be taken from 401(k) plans from previous employers, and stopping work triggers the need to start RMDs [7]

Welcome back. Squat. Zoran Mandami's primary win in New York City's mayoral race has sparked what might be described as a panic among the wealthy with some business owners and developers threatening to leave the big apple if the Democratic socialist becomes the mayor.Robert Frank joins us now uh at the table this morning with a look at the city's wealthy and what they really think about all of it. What do you think. Good morning, Andrew.Well, Florida real estate brokers say they've seen a surge in interest ...

Tax Benefits for Retirees - Most states offer at least one tax break to retirees [1] - Eight states have no income tax at all [1] Retirement Income Exemptions - Some states exempt multiple forms of retirement income [1]