The Secure Act, which passed the House of Representatives, aims to increase the age for required minimum distributions to 72 from 70 1/2. Will this change be impactful for you? Currently, retirees are required to begin distributions from retirement accounts (IRA's, 403b's, 401k's) the year in which they turn 70.5. Withdrawals typically start at about 3.65% of your prior year end balance and go up from there. By the time you reach 80 years of age, your RMD is close to 5% of your balance annually. For those who do not need the distributions, there are limited options available. You can donate your RMD as a qualified charitable distribution to avoid taxation (check with your CPA each year to make sure the IRS is still offering this option), or you can move the money into a taxable investment account for reinvestment and pay the required taxes. If allowed additional years to defer your RMD, that may help your funds last longer. If you have any questions about your account or withdrawal strategy, please give your Portfolio Manager a call. We are happy to help!