1. Required minimum distributions (RMDs) are the minimum amount you must withdraw from certain retirement accounts annually, generally kicking in at age 73 (or 75 if born in 1960 or later). If you don’t need your RMD for bills, consider reinvesting it in a long-term investment.
2. Use RMDs to reduce debt, recast your mortgage, create a healthcare account for medical expenses, or pad your emergency fund.
3. Invest in education for grandchildren, do something kind for yourself in retirement, and explore options to make the most of your RMDs.

Read more at Nasdaq: What Are 7 Strategic Ways for Retirees to Use Their Required Minimum Distribution (RMD)?