RMD's

[iris lilies]

Here is a practical question about RMD’s: For those of you who take the money regularly, in what form do you get it?

I ask because Vanguard, which holds my main IRA doesn’t seem to be able to transfer money electronically. They send checks.

Next January I have to start taking an RMD (really it’s the following year that is required, but I’m doing it next year so that I don’t have two RMD’s in the same calendar year.)

I’m thinking if they have to send that big check through the mail, that is not good. Our mail service is so bad. Now there are credible reports that postal workers are washing checks in St. Louis. I’m beginning to hate the post office quite a bit even though our local Hermann post office and its employees are very nice.

[Alan]

Here is a practical question about RMD’s: For those of you who take the money regularly, in what form do you get it?

I ask because Vanguard, which holds my main IRA doesn’t seem to be able to transfer money electronically. They send checks.

I'm not yet taking RMD's but I do take a chunk of money out of our Vanguard accounts once in a while. It's sent directly to my bank account, I've never received a check from Vanguard.

[bae]

It looks like I can click a button to transfer the funds from my retirement accounts at my brokerage to one of my slush-fund accounts there. It's so easy that when I'm moving funds around between other accounts, I always triple-check to make sure I'm not accidentally touching one of the retirement accounts.

[iris lilies]

I'm not yet taking RMD's but I do take a chunk of money out of our Vanguard accounts once in a while. It's sent directly to my bank account, I've never received a check from Vanguard.

Great! This is a relief. I guess I assumed Vanguard did checks only because that’s what they do for the QCD’s I set up, but of course they wouldn’t have bank information for those charitable organizations so – – doh. I wasn’t thinking it through

but I might have my RMD transferred to another Vanguard index fund anyway when the time comes.

[pinkytoe]

in what form do you get it?

Our end of month inherited IRA RMD funds are in a Vanguard brokerage account so the end of month payment goes to a non-IRA account settlement fund. We also have a savings acct at Vanguard so it could be sent there if we chose that option.

[frugal-one]

Here is a practical question about RMD’s: For those of you who take the money regularly, in what form do you get it?

I ask because Vanguard, which holds my main IRA doesn’t seem to be able to transfer money electronically. They send checks.

Next January I have to start taking an RMD (really it’s the following year that is required, but I’m doing it next year so that I don’t have two RMD’s in the same calendar year.)

I’m thinking if they have to send that big check through the mail, that is not good. Our mail service is so bad. Now there are credible reports that postal workers are washing checks in St. Louis. I’m beginning to hate the post office quite a bit even though our local Hermann post office and its employees are very nice.

Vanguard deposits electronically to whatever account or bank you desire.