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QLACs: Your Secret Weapon for Retirement | Raleigh News
Retirement’s not just about saving—it’s about surviving the tax and income squeeze. Once you hit 73, Uncle Sam demands Required Minimum Distributions, which can push you into higher taxes and steeper Medicare costs. But there’s a clever workaround: the QLAC, a tax-advantaged annuity that lets you park up to $210K (or $420K for couples) in your IRA with an insurer, locking in guaranteed income later—say, at 85. Best part? That money doesn’t count toward your RMDs, shrinking your mandatory withdrawals. Thanks to SECURE 2.0, the rules are simpler and limits are higher. Fidelity’s math? A $210K…
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