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Required Minimum Distribution Election Form Penn Mutual Life

Required Minimum Distribution Election Form Penn Mutual Life

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[Music] hi I'm Andy panko owner of tenant Financial welcome to retirement planning demystified this video will discuss what you need to know about our MDS or required minimum distributions specifically I'll be discussing how our MDS impact your own retirement accounts not accounts you inherit from someone else inherited accounts have a unique set of RMD rules which I'll discuss in a separate video but before we start remember this video is only general explanations in education it's not specific tax legal or investment advice before considering acting on anything you see in this video first consult with your tax legal or investment advisor do you have a traditional retirement savings account like an IRA 401k or 403b the benefit to these accounts is tax deferral which means you don't pay tax on the money you put in the money sits in there and grows without you having to pay any tax along the way but you will have to pay tax on any withdrawals you eventually make well it's nice to have a

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