My tIRA is at Schwab.
My RMD is set to pay out automatically each month. HOWEVER, I have to set up a new autopay from the settlement account each year.
I am trying to do two things: First, I would like to figure out how to be sure I have enough money in my settlement account to pay for my RMD. So far I have been doing this two or three times a year by selling money market funds.
Second, I want the RMDs to continue year to year without my setting them up each year. I have no trouble doing this now, but I can see a time coming when I will no longer be able to do so. I have no heirs or close relatives who I would trust to do this, and I would like to delay the involvement of a bank trust department for as long as possible.
I have asked the Schwab retirement person how to do this, but no luck.
My RMD is set to pay out automatically each month. HOWEVER, I have to set up a new autopay from the settlement account each year.
I am trying to do two things: First, I would like to figure out how to be sure I have enough money in my settlement account to pay for my RMD. So far I have been doing this two or three times a year by selling money market funds.
Second, I want the RMDs to continue year to year without my setting them up each year. I have no trouble doing this now, but I can see a time coming when I will no longer be able to do so. I have no heirs or close relatives who I would trust to do this, and I would like to delay the involvement of a bank trust department for as long as possible.
I have asked the Schwab retirement person how to do this, but no luck.
Statistics: Posted by ralph124cf — Sun Jun 02, 2024 2:18 pm — Replies 3 — Views 409