After age 72, a Required Minimum Distribution (or RMD) must be withdrawn from your traditional IRAs and 401(k)s each year—whether you need it or not. Failing to take an RMD could result in a tax penalty worth up to 50% of the amount you should have taken.   Listen now and learn about seven strategies to minimize the RMD tax liability.     Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

When it comes to maximizing wealth, there is usually going to be a mathematically optimal solution, but that solution doesn’t always align with our human emotions.   Ben Carlson, co-host of Animal Spirits and author of A Wealth of Common Sense, joins me to talk about the variety of instances where spreadsheets and theory don’t align with human emotions and reality.   Listen now and learn: Why investors fail to earn the market return The importance of avoiding bad investments How personal finance best practices aren’t always the optimal choice for you   Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.