Quote:
Originally Posted by Goodallboy
Yes, it's "your own hard earned money" and is subject to being used for anything you might choose to use it on.
Wishfully, he probably expected a discussion about guitars being bought with his "hard earned money".
As a professional financial planner I see that most of my clients don't really need their RMD's for living expenses and would rather not be forced to take them. They didn't "do a lot more spending than saving", quite the opposite.
I'd imagine that the OP fits this category and probably didn't need the financial advice.
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Agreed. Those I know who are taking a RMD are doing so since it's forced; they usually don't need the money. If they needed the funds for living expenses, they would have already taken a distribution and thus the RMD would be a non-issue.
Viewed in that light, dealing with the RMD would just be an issue of: do I want to re-invest or park the $'s somewhere else or do I want to purchase something that will give me enjoyment.