Liam, 68, retired, has 2 annuities worth $300,000 at 5.5% and $100,000 at 4.5%, due to mature in 2026 and 2028, respectively. RMDs are coming in 5 years. Seeking advice on minimizing taxes and reinvesting. Financial advisor can assist with portfolio management and retirement planning.

RMDs increase taxable income and decrease retirement balances. Calculate RMD by dividing account balance by life expectancy factor. Consider managing RMDs through withdrawals once annuities mature. Strategic planning can help reduce long-term tax liabilities. Roth conversions can also lower future RMDs.

Qualified Longevity Annuity Contract (QLAC) allows excluding its value from RMD calculations. Purchase annuity up to $210,000, with payouts starting no later than age 85. QCDs let you donate directly from IRA to charities, excluding amounts from income. RMDs can also be satisfied through QCDs.

Consider each action in relation to your overall financial plan. Mix traditional and Roth accounts for flexibility. Advisors can help build projections for retirement income planning. Start withdrawing from annuities to reduce RMDs. Connect with a financial advisor for personalized guidance.

Read more at Yahoo Finance: I Have 2 Annuities and RMDs Looming. What Can I Do to Minimize Taxes and Possibly Reinvest the Money?