Ed Slott, a retirement plan expert in suburban New York City, also favors boosting the starting age to 75, if not higher. "That would be great, the better way to handle (increased life expectancy)," he said.
First, by making the donation, you avoid any long-term capital gains tax on the asset. "That will help you reduce your taxable income," says Ed Slott, a CPA who educates financial advisers on IRA and retirement planning strategies.
“The RMDs aren’t that big to start with,” said Ed Slott, an author and retirement expert. "Unless you’re talking about a mega-IRA, adjusting the tables for higher longevity won’t shave off even a percentage point in the amount you must take.”
Many retirees tap their Social Security benefits at their full retirement age or even earlier, while leaving their IRAs until later in retirement. But IRA expert Ed Slott believes that the opposite sequence can make more sense in certain situations.