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The Your Life, Your Money Podcast helps you thrive in life, wealth and retirement. The show is designed to navigate the complexities around money, building and securing wealth, and achieving financial independence. Scott Sierens, financial advisor at Sierens Financial Group, will provide thoughts, strategies, and ideas on each episode to help you make smart and sound financial decisions. The goal is to take complex financial subjects and make them simple and easy to understand so you can feel confident to take action, enjoy life, and eliminate financial stress and anxiety.

Scott, along with guests from across various industries, will cover topics such as tax savings strategies, investment and wealth management, IRAs, 401(k)s, retirement planning, income strategies, pensions, estate planning, social security, healthcare, and much more.

Retirement isn't an age or number. It's finding the balance between living life today and feeling financially confident about YOUR tomorrow.

Ask Scott your questions by calling 847-235-6989 or check out our podcast website at for more resources.

Mar 23, 2023

Did you know the government is going to force you to take money out of some of your retirement accounts as you get older, even if you don’t want to? In today’s episode, we talk about what required minimum distributions are, why they exist and when they might start for you. Ignoring them could lead to major taxes issues down the road that might be difficult to overcome.


Here’s some of what you’ll learn on this episode: 

  • When you ignore RMDs and don’t properly plan for them, it could lead to unnecessary tax expenses in the future. 0:55
  • What are RMDs? 4:31
  • Why do we have to take these RMDs and when do they start? 7:20  
  • The potential tax risks of ignoring RMDs. 10:07
  • Is there anything you can do to avoid having to take these RMDs? 17:49


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