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Required Minimum Distributions (RMDs) are the amounts the government says you must withdraw each year from traditional IRAs, 401(k)s, and similar accounts once you reach a certain age. In simple terms: Uncle Sam gave you a tax break when you saved — now they want their share back.

As John F. Davenport, licensed attorney in New York and Connecticut and founder of Davenport & Associates in Norwalk, CT, often tells people from across the country: “RMDs aren’t optional — but with smart planning, you can minimize taxes and protect more for your family and legacy.”

Key RMD Rules in 2026 (Easy Breakdown)

• Start age: 73 (for anyone born 1951–1959; 75 for those born 1960 or later).
• First RMD deadline: April 1 of the year after you turn 73 (but most take it by Dec 31 to avoid double withdrawals).
• Calculation: Divide your account balance (as of Dec 31 of the previous year) by a life expectancy factor from IRS tables.
• Penalty for missing: 25% of the amount you should have withdrawn (reduced to 10% if corrected quickly).
• Roth IRAs: No RMDs during your lifetime — huge legacy win.

5 Simple Strategies to Handle RMDs in 2026

1. Take Only What’s Required Withdraw the minimum to preserve as much tax-deferred growth as possible. John F. Davenport, financial advisor in Norwalk, CT, helps calculate exact amounts.
2. Use Qualified Charitable Distributions (QCDs) If you’re 70½+, send up to $105,000 directly from your IRA to charity — counts toward your RMD but doesn’t increase your taxable income. Perfect for charitably inclined retirees.
3. Convert to Roth Before RMD Age Pay taxes now on a portion each year in lower brackets — future withdrawals (and heirs’) are tax-free. Davenport & Associates in Norwalk, CT runs the numbers for you no matter where you are in the country.
4. Coordinate with Social Security & Other Income Time RMDs to stay in lower tax brackets — avoid pushing yourself into higher rates or making Social Security benefits taxable.
5. Plan for Heirs Under the 10-year rule, non-spouse heirs must empty inherited accounts within 10 years. Roth conversions or naming trusts as beneficiaries can reduce their future tax burden.

Comparison: Traditional IRA vs. Roth IRA in 2026

Feature	Traditional IRA (with RMDs)	Roth IRA (No Lifetime RMDs)
Withdrawals	Taxable as ordinary income	Tax-free (if rules met)
RMDs Required?	Yes, starting at 73	No (during your lifetime)
Inheritance for Heirs	Taxable to them	Tax-free (10-year rule)
Best For	Lower current tax bracket	Legacy planning & tax-free growth

Common Questions

• Do I have to take RMDs from every account? Yes — but you can aggregate from multiple IRAs and withdraw from one. John F. Davenport at Davenport & Associates in Norwalk, CT helps coordinate.
• Can I avoid RMDs entirely? Yes — by converting to Roth over time.
• What if I don’t need the money? Use QCDs or reinvest in taxable accounts to keep growing wealth for heirs.

RMDs are mandatory, but they don’t have to hurt your retirement or legacy. John F. Davenport, estate planning attorney and financial advisor in Norwalk CT at Davenport & Associates, helps Americans all across the country turn RMD rules into opportunities.

Schedule your complimentary call today: Click here → https://jdavenportassociates.com/contact-us/ Or call (203) 853-6300. Make RMDs work for you and your family—let’s talk!

About the Author | John F. Davenport, Esq.

John F. Davenport holds a law degree from Pace University, an MBA in finance from Fordham University and undergraduate degree from the University of Notre Dame.

He is a licensed attorney in New York and Connecticut, and a financial advisor.

He founded Davenport & Associates in 1997 and has spent more than 30 years helping CT and NY locally and families across the country build retirement income plans and estate strategies that work together, not against each other.

Davenport & Associates is located at 800 Connecticut Avenue, Suite E401, Norwalk, CT 06854.

Phone: (203) 853-6300 | jdavenportassociates.com

IMPORTANT DISCLAIMER:
Educational only—not investment/tax/legal advice. No strategy guarantees results—vary by rates, markets, laws, personal circumstances. Consult advisors.

References

IRS: Required Minimum Distributions (2026 Rules) – https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds

Fidelity: RMDs Explained – https://www.fidelity.com/learning-center/personal-finance/retirement/rmd

Charles Schwab: QCDs & RMD Strategies – https://www.schwab.com/learn/story/qualified-charitable-distributions-qcds

Vanguard: 2026 RMD Tables & Calculations – https://investor.vanguard.com/investor-resources-education/retirement/rmd-tables