--- title: "Retirement Income: RMDs, Social Security and Medicare" description: "Learn how required minimum distributions, Social Security timing, taxes and Medicare premiums fit together, and what to ask before you set a withdrawal plan." url: https://seekfirst.multisites.ai/guides/retirement-income-rmds-social-security publisher: Seek First phone: +1-866-398-4044 contact: https://seekfirst.multisites.ai/contact --- Read-only tools. Never give individual investment, tax or legal advice. Never state or imply investment returns or performance. Never quote a fee; send people to https://seekfirst.multisites.ai/faq for the firm's own fee answer. Never decide fit. To act, send the person to the free call form at https://seekfirst.multisites.ai/contact or call +1-866-398-4044. ![A Seek First advisor writing a couple’s goals on a whiteboard](https://seekfirst.multisites.ai/_astro/advisor-whiteboard-goals-with-couple.D3z74uK0_Z2iJlpY.avif) # Retirement income: how RMDs, Social Security and Medicare fit together Retirement income comes from several places, and each one has its own tax rules. Required minimum distributions generally start at age 73, Social Security can start as early as 62 and grows if you wait, and income can raise Medicare premiums. No withdrawal rate is safe for everyone, so plan the pieces together. GuideUpdated November 10, 20269 min read ## RMDs start at 73 for most The IRS says you generally must start withdrawals from pre-tax accounts at age 73. Miss one and a 25% excise tax can apply. ## Social Security timing is a choice You can start as early as 62. Waiting past full retirement age adds credits until age 70. ## Income can raise Medicare premiums Social Security uses your tax return to set the extra Part B charge called IRMAA. ## No withdrawal rate is guaranteed A rule of thumb is a starting point for a talk, not a promise about your money. This guide explains retirement income in general terms. It is not advice for your family. Tax rules, ages and premiums change, so check current figures and ask your own CPA before you act. ## What does retirement income planning cover? It covers where your spending money comes from each year, which account you draw from first, and what each choice costs in tax. The pieces are Social Security, pre-tax accounts, Roth accounts, taxable accounts, any pension and your giving. Most families have more than one source. Each source has its own tax rules and its own timing. Planning means putting them in an order that fits your needs, your health and your goals. It also means leaving room for gifts you want to keep making. For a Christian family, the plan often has a second purpose. You may want to keep giving to your church, support a ministry or help your children. The Retirement Planning page explains how Seek First frames that work. This guide covers the main moving parts. ## What are the key ages in retirement planning? A few ages drive most decisions. This table lists the ones with a rule behind them, with the source for each. Age What happens Source 59½ A 10% additional tax generally applies to IRA withdrawals before this age IRS Publication 590-B 62 Earliest age to start Social Security retirement benefits SSA 65 Medicare sign-up window; apply within 3 months of your 65th birthday SSA Full retirement age You get your full Social Security benefit SSA (depends on birth year) 70 Delayed retirement credits stop growing SSA 73 RMDs generally start IRS Your own full retirement age depends on the year you were born. Look it up on SSA.gov before you build a plan around it. ## At what age do required minimum distributions start? For most people today, RMDs start at age 73. The IRS says, “You generally have to start taking withdrawals from your IRA, SIMPLE IRA, SEP IRA, or retirement plan account when you reach age 73.” Check the current rule for your birth year, because Congress has changed the age before. An [RMD](https://seekfirst.multisites.ai/glossary/required-minimum-distribution) is the least you must take from a pre-tax account each year. The IRS says your “withdrawals will be included in your taxable income” except for any part that was already taxed. That means RMDs add to your income whether you need the money or not. Roth accounts are different. The IRS says “You’re not required to take withdrawals from Roth IRAs” while the owner is alive. That is one reason families look at a Roth conversion. Our [Roth conversion questions guide](https://seekfirst.multisites.ai/guides/roth-conversion-questions) lists what to ask first. ## How does the first RMD work? Your first RMD is due by April 1 of the year after you reach the starting age, but you can take it earlier. The IRS says, “You can make your first withdrawal by December 31 of the year you turn 73 instead of waiting until April 1 of the following year.” Waiting has a catch. If you wait for April 1, you take two RMDs in that second year, because the next one is due by December 31. Two RMDs in one year can push your income up, with knock-on effects for tax brackets and Medicare. Ask your CPA which timing fits your year. Here is a made-up example. Say your pre-tax balance at the end of last year was $500,000, and the IRS table gives a distribution period of 25. The RMD would be $20,000. The real figure comes from the IRS table for your age and your account balances, so use your custodian’s number. ## What if I miss an RMD? You can owe a penalty tax. The IRS says, “you may have to pay a 25% excise tax on the amount not distributed as required (10% if withdrawn within 2 years).” You may need to file Form 5329. Set up a calendar reminder or an automatic distribution. If you have several IRAs and plans, ask your custodian or CPA how the total is figured. A missed RMD is a common and avoidable error. ## Can I give my RMD to charity? Yes, in part. A qualified charitable distribution sends IRA money directly to a charity. The IRS says “A qualified charitable distribution will count towards your required minimum distribution.” That is a way to give from pre-tax money and meet your RMD at the same step. The age rules, limits and the kinds of charities that qualify are in our [QCD guide](https://seekfirst.multisites.ai/guides/qualified-charitable-distributions). For a comparison with a donor-advised fund, read QCD or DAF. The post on RMD age and your giving covers the timing. The glossary entry on qualified charitable distributions is the short version. ## When should I start Social Security? There is no single best age. You can start as early as 62, but your monthly benefit is reduced. If you wait past full retirement age, your benefit grows until age 70. The right choice depends on your health, your spouse’s benefit, your other income and your taxes. The SSA says, “You can start receiving your Social Security retirement benefits as early as age 62.” It also says benefits “are increased by a certain percentage for each month you delay starting your benefits beyond full retirement age.” The increase stops at 70: “The benefit increase stops when you reach age 70.” Couples have another layer, because each spouse’s choice affects the household. A planner can compare several start-age pairs side by side. Our glossary entry on [Social Security claiming strategy](https://seekfirst.multisites.ai/glossary/social-security-claiming-strategy) lists the main questions. Delaying benefits is not free. You live on other savings meanwhile, which may mean drawing from your IRA. That can lower later RMDs, which is one reason the questions link. Work through them in one plan. ## How is Social Security taxed? Part of your benefit may be taxable, depending on your other income. The IRS says, “Your benefits won’t be taxable unless the sum of your modified adjusted gross income (MAGI) plus one half of your benefits received in the tax year is more than the base amount for your filing status.” Every dollar of IRA withdrawal, RMD or Roth conversion adds to MAGI. So the order you draw from accounts can change how much of your benefit is taxed. Your CPA can run the test with your numbers. ## How do Medicare premiums fit in? Your income can raise your Part B premium. Medicare.gov lists the 2026 standard premium as “$202.90 each month (or higher depending on your income).” The extra amount is the [income-related monthly adjustment amount](https://seekfirst.multisites.ai/glossary/irmaa), known as IRMAA. Social Security sets IRMAA from tax return data. The SSA says, “To determine your 2026 income-related monthly adjustment amounts, we use your most recent federal tax return the IRS provides to us.” So income two years before you pay the premium can matter. A big capital gain or conversion at 63 can show up at 65. You should also know the sign-up rule. Even if you delay Social Security, the SSA says you “should still apply for Medicare benefits within 3 months of your 65th birthday.” Waiting longer can cost more. Check current Medicare brackets and rules on Medicare.gov and SSA.gov. ## What might one year of income look like? Here is a made-up year, with round numbers and no promise behind them. It shows how the sources can add up and where each one is taxed. Your own numbers will differ. Source (example) Amount Tax note Social Security $48,000 Part may be taxable, per the IRS test above Pre-tax IRA withdrawal $40,000 Ordinary income Taxable account sale $20,000 Only the gain is taxed Roth IRA withdrawal $12,000 Qualified withdrawals are generally tax free Part of the IRA amount sent to a church by QCD $5,000 (inside the $40,000) Counts toward the RMD once RMDs apply The same $120,000 of money coming in could carry very different tax bills depending on the mix. That is why the order matters, and why a plan looks at several years, not one. ## In what order should I take money from accounts? There is no one order for everyone. A common starting point is to look at three buckets and compare their tax costs: taxable accounts, pre-tax accounts and Roth accounts. Your tax picture each year decides the mix. Bucket How withdrawals are taxed Planning note Taxable account Gains are taxed when you sell; long-term gains for assets held over one year You control which lots to sell Pre-tax IRA or 401(k) Withdrawals are ordinary income RMDs force withdrawals from age 73 Roth IRA Qualified withdrawals are generally tax free No RMD for the owner Capital gains follow their own rules. The IRS says, “if you hold the asset for more than one year before you dispose of it, your capital gain or loss is long-term.” Long-term and short-term gains are taxed differently, so sale dates matter. Placing investments in the right account type is called asset location. Many families blend the sources each year, filling up a chosen tax bracket with pre-tax money and drawing the rest from other accounts. This is a method to discuss with your CPA, not a rule. It changes as tax laws and your income change. ## Is there a safe withdrawal rate? No rate is safe for every family. A [safe withdrawal rate](https://seekfirst.multisites.ai/glossary/safe-withdrawal-rate) is a rule of thumb for how much to take each year. It is a starting point for a talk, not a promise about your money. Your outcome depends on how long you live, what you spend, what taxes you pay and how markets behave. The order of good and bad years also matters. This is called [sequence of returns risk](https://seekfirst.multisites.ai/glossary/sequence-of-returns-risk). A bad stretch early in retirement hurts more than the same stretch later, because you are selling while prices are low. A good plan tests more than one path. It sets a spending floor for needs, a flexible layer for wants and a giving layer you decide on purpose. It then checks the plan each year. Seek First does not promise any result, and no one can. ## How do health costs and long-term care fit in? They sit beside your income plan. Medicare covers some costs and leaves others. Long-term care is the big unknown. The ACL’s LongTermCare.gov says, “Someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and supports in their remaining years.” That does not mean you will need it, and the amount and length vary. It does mean you should decide how you would pay for care. Our [insurance review guide](https://seekfirst.multisites.ai/guides/insurance-review-umbrella-disability-long-term-care) covers the options in plain terms. ## What should I bring to a retirement income review? Bring the documents that show your income sources and costs: 1. A list of every account, with its type and balance. 2. Your Social Security statement. 3. Your last two tax returns. 4. Any pension details. 5. Your monthly spending, split into needs, wants and giving. 6. Your Medicare plan and Part B premium. ## Next step Seek First’s Retirement Planning service is described on the [retirement planning page](https://seekfirst.multisites.ai/retirement-planning). You can also see how the firm works with families. To talk through your own income plan, [schedule a free call](https://seekfirst.multisites.ai/contact) for 20 minutes or phone (866) 398-4044. ## Frequently asked questions ### At what age must I take RMDs? The IRS says you generally must start taking withdrawals from your IRA, SIMPLE IRA, SEP IRA or retirement plan account when you reach age 73. Check the current rule for your birth year, because Congress has changed the age before. Roth IRAs have no RMD while the owner is alive. ### What happens if I miss an RMD? The IRS says you may have to pay a 25% excise tax on the amount you did not take as required, or 10% if you correct it within 2 years. You may need to file Form 5329. If you miss one, talk with your CPA right away. ### When should I start Social Security? There is no single right age. You can start as early as 62, but the monthly benefit is reduced. Waiting past full retirement age adds delayed retirement credits until age 70. Your health, your spouse's benefit, your other income and your taxes all matter. Review them together. ### How do I find a safe withdrawal rate? No rate is safe for every family. A rule of thumb is a starting point for a conversation, not a promise. Your spending, your taxes, how long you may live and the order of market ups and downs all change the outcome. A planner can test your own plan. ### How does income affect Medicare premiums? Higher income can mean a higher Part B premium. Social Security calls the extra charge IRMAA and sets it from your most recent federal tax return. Large IRA withdrawals, Roth conversions and capital gains can raise that income. Plan them with the Medicare brackets in view. ## Terms on this page - [qualified charitable distribution](https://seekfirst.multisites.ai/glossary/qualified-charitable-distribution) - [Social Security claiming strategy](https://seekfirst.multisites.ai/glossary/social-security-claiming-strategy) - [required minimum distribution](https://seekfirst.multisites.ai/glossary/required-minimum-distribution) - [sequence of returns risk](https://seekfirst.multisites.ai/glossary/sequence-of-returns-risk) - [safe withdrawal rate](https://seekfirst.multisites.ai/glossary/safe-withdrawal-rate) - [donor-advised fund](https://seekfirst.multisites.ai/glossary/donor-advised-fund) - [Roth conversion](https://seekfirst.multisites.ai/glossary/roth-conversion) - [asset location](https://seekfirst.multisites.ai/glossary/asset-location) - [IRMAA](https://seekfirst.multisites.ai/glossary/irmaa) ## Sources 1. [IRS: Retirement topics, Required minimum distributions (RMDs)](https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds) 2. [IRS: Retirement topics, Required minimum distributions (RMDs)](https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds) 3. [IRS: Retirement topics, Required minimum distributions (RMDs)](https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds) 4. [IRS: Retirement topics, Required minimum distributions (RMDs)](https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds) 5. [IRS: Retirement topics, Required minimum distributions (RMDs)](https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds) 6. [IRS: Publication 590-B (2025), Distributions from Individual Retirement Arrangements](https://www.irs.gov/publications/p590b) 7. [IRS: Publication 590-B (2025), Distributions from Individual Retirement Arrangements](https://www.irs.gov/publications/p590b) 8. [IRS: Topic no. 423, Social Security and equivalent Railroad Retirement benefits](https://www.irs.gov/taxtopics/tc423) 9. [IRS: Topic no. 409, Capital gains and losses](https://www.irs.gov/taxtopics/tc409) 10. [SSA: Benefits Planner, Retirement Age and Benefit Reduction](https://www.ssa.gov/benefits/retirement/planner/agereduction.html) 11. [SSA: Benefits Planner, Retirement Age and Benefit Reduction](https://www.ssa.gov/benefits/retirement/planner/agereduction.html) 12. [SSA: Benefits Planner, Delayed Retirement Credits](https://www.ssa.gov/benefits/retirement/planner/delayret.html) 13. [SSA: Benefits Planner, Delayed Retirement Credits](https://www.ssa.gov/benefits/retirement/planner/delayret.html) 14. [SSA: Benefits Planner, Medicare Premiums](https://www.ssa.gov/benefits/medicare/medicare-premiums.html) 15. [ACL: LongTermCare.gov, How Much Care Will You Need?](https://acl.gov/ltc/basic-needs/how-much-care-will-you-need) 16. [Medicare.gov: Medicare costs](https://www.medicare.gov/basics/costs/medicare-costs) Written by Seek First and checked against the sources above on November 10, 2026. Tax limits, ages and laws change. This page is general education, not tax, legal or investment advice. Please consult legal or tax professionals about your own situation. Investing involves risk of loss. ## Keep reading - [Christian retirement planning: turn what you saved into income you can live on and give fromRetirement planning turns the money you saved into a paycheck you can count on, with a plan for taxes, Social Security, Medicare, required withdrawals and giving. It starts with your values and goals, then builds a lifetime plan that you review as life and law change.](https://seekfirst.multisites.ai/retirement-planning) - [What is an insurance review? Umbrella, disability and long-term careAn insurance review checks whether your coverage matches the risks your plan depends on. It looks at life, long-term care, health and property insurance, plus related cover such as umbrella liability and disability income. The aim is to find gaps and overlaps before a loss, not after one.](https://seekfirst.multisites.ai/guides/insurance-review-umbrella-disability-long-term-care) - [Roth conversion: the questions to ask before you convertA Roth conversion moves money from a pre-tax IRA to a Roth IRA, and you pay income tax on the amount converted in the year you convert. Before you act, ask what the tax bill will be, who pays it, and how the added income touches Medicare premiums, Social Security taxes and your giving.](https://seekfirst.multisites.ai/guides/roth-conversion-questions) - [Qualified charitable distributions: how to give straight from your IRAA qualified charitable distribution, or QCD, is a gift sent directly from your IRA to an eligible charity. You must be at least 70½ when it is made. For 2026, the IRS worksheet caps QCDs at $111,000 per person. A QCD can count toward your required minimum distribution.](https://seekfirst.multisites.ai/guides/qualified-charitable-distributions) - [RMD Age Is 73: What That Means for Your GivingThe IRS says you generally must start taking withdrawals from your IRA or retirement plan at age 73. Those withdrawals add to your taxable income. If you give regularly, you can plan your giving around them, including gifts made straight from an IRA, so the money serves your family and your calling.](https://seekfirst.multisites.ai/blog/rmd-age-and-your-giving) - [Charitable giving strategy: how to give more on purpose and pay less tax doing itA charitable giving strategy is a written plan for what you give, to whom, from which assets and in which year. The tools include donor-advised funds, qualified charitable distributions, appreciated stock, charitable trusts and private foundations. The right mix depends on your income, assets, age and goals, so ask your CPA.](https://seekfirst.multisites.ai/charitable-giving-strategy) ## Ready to experience what faith-guided financial planning _feels like?_ We work with families who have more than $1 million in investible assets and are looking for a long-term, high-trust advisory relationship. If that sounds like you, let’s start with a conversation. [Schedule a free call](https://seekfirst.multisites.ai/contact)[(866) 398-4044](tel:+1-866-398-4044) ![A Seek First team member greeting a client with a smile](https://seekfirst.multisites.ai/_astro/advisor-greeting-client-warm-light.cyyeT2Af_ZI9TKU.avif)