Too Much Retirement Income? Here’s What to Do

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Most people worry about outliving their money, but what if the opposite happens? What if your money is going to outlive you? Financial planning doesn’t stop once you hit 65. You'll still want to spend and invest your money.

But besides just spending more on retirement, what should you do with excess funds? Are there ways to make your money continue to work for you and your family? How can you enjoy your hard-earned money?

Keep the IRS Away From RMDs

Don’t give your hard-earned income to the Internal Revenue Service (IRS) when you receive the required minimum distribution (RMD) from your retirement accounts. Instead, you should consider a qualified charitable distribution (QCD).