As we approach 2026, don’t forget to complete your 2025 to-do list, especially if you’re 73 or older and need to take required minimum distributions (RMDs) from your retirement accounts to avoid a 25% tax penalty. Calculating your RMD is simple – just divide your account balance by the distribution period based on your age. You can withdraw the minimum amount or opt for a qualified charitable distribution to avoid taxes. Act soon, as RMD deadlines vary. Additionally, consider maximizing your Social Security benefits to boost your retirement income by up to $23,760 per year. Join Stock Advisor for more strategies.

Read more at Nasdaq: There’s Only a Few Weeks Left to Take Your 2025 Required Minimum Distributions (RMDs). What to Do to Avoid a 25% Tax Penalty.