Amy's News


Create a plan to withdraw your minimum distributions on your terms, while complying with Uncle Sam's

Every day, an estimated 10,000 people reach the IRS trigger age (70½) when they must begin withdrawing money from their retirement plans (Source: If you're among them, or soon will be, it's wise to communicate with us to develop a personal strategy for dealing with this new reality.

After years of focusing on building your retirement nest egg, being forced to start drawing it down can be disconcerting. But once you hit 70½, IRS rules call for required minimum distributions (RMDs) every year on all of your traditional, simplified employee pension (SEP) and SIMPLE IRAs, as well as employer-sponsored plans such as 401(k), 403(b) and 457(b) plans. Roth IRAs are exempt.  

RMDs are mandatory every year after age 70½, although you can delay taking the first one until April 1 of the year after you reach that age. If you do, be aware that you will need to take a second RMD in that same year and will owe taxes on both. You can elect to have state and federal taxes automatically withheld from your RMDs at the time of distribution.

The IRS requires that you calculate an RMD separately for each IRA you own, but permits you to withdraw the total amount from one or more of your IRAs.

Since you definitely want to comply (the IRS will levy a hefty 50% penalty on any amount you are supposed to withdraw but don't), it's a good idea to strategize with me on how to be smart with RMDs, perhaps even automating them so you know you're always in compliance.

RMDs are also going to affect your overall tax liability and potentially your estate plans, so it's important to strategize how everything interacts.

In the event that you don't need the money from your RMD in a given year, and want to minimize your taxes, you may want to consider what's known as a qualified charitable distribution (QCD). A QCD allows you to donate up to $100,000 directly from your IRA to a qualified charity. This removes money from your IRA tax-free, which in turn reduces the amount on which your RMD for that year is calculated, and also provides you with a potential tax deduction. You must be 70½ or older to be eligible to make a QCD.

If you have questions or are interested in making a qualified charitable distribution, let me know and I can facilitate the distribution for you from our office. Also, please call me to discuss your RMD calculations, totals and possible strategies.

Please note, changes in tax laws may occur at any time and could have a substantial impact upon each person's situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any opinions are those of Amy Luckeroth and not necessarily those of RJFS or Raymond James.


Do you know what T+2 means?

Effective September 5, 2017, the U.S. Securities and Exchange Commission (SEC) is shortening the settlement cycle from three business days to two business days for most securities transactions, including but not limited to trades for stocks, corporate and municipal bonds, mutual funds, and unit investment trusts (UITs).  

As a result, I can get your money to the bank a day sooner following the sale of a security. Additionally, you will be required to provide funds more promptly following the purchase of a security, or interest will begin accruing after settlement date if the debit has not been covered.

You can find more information about this industry-wide change by visiting If you have any questions, please do not hesitate to contact me.

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.


For those of you who have not had an annual review this year, it is necessary that we touch base with you. If you live out of town, we can schedule a telephone conference at your convenience. Some of the things that we address during reviews are beneficiary designations, estate planning issues and making sure your account information is up to date. We also assess your investment risk tolerance to be sure your accounts are invested appropriately. Annual reviews are a great time to discuss any financial issues you may be facing and address any questions you may have. If you have not had your review this year, please call Kari to schedule yours, 920.272.CAPE.

Amy Luckeroth
Executive Assistant
Cape Financial Group, LLC | An Independent Firm
2345 E. Mason St | Green Bay, WI 54302
920.272.2273 office | 855.755.CAPE toll-free | 920.272.2277 fax