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If you don’t need the distribution from a required minimum distribution, is there a rule of thumb on what you should do with the funds?

That would be the proverbial $64 billion question. The required minimum distribution is what the IRS requires participants to withdraw from corporate retirement accounts and individual retirement accounts when they reach a certain age.

The assumption is that those dollars will be used to provide income during the account owner’s retirement years. For those fortunate few who find themselves in the enviable position to not need their IRA dollars during retirement, a different purpose needs to be identified. Creating a legacy for subsequent generations or fulfilling a philanthropic desire are a couple of potential worthwhile uses for unneeded IRA money fast cash advance.

Shifting the purpose for IRA assets requires additional planning and expertise on an IRA owner’s and adviser’s part. The next step is to identify a new purpose. Then I would suggest finding an adviser with the specialized training to pursue advanced IRA strategies. Beyond the basics, there are lots of rules, but, alas, no one "rule of thumb."

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