Under current law, the first required minimum distribution (RMD) from your IRA, 401k, etc. is not required until after reaching age 72.
But you don’t have to take that distribution until April 1st of the year after you reach age 72.
CAUTION: If you delay the first withdrawal, you’ll also have to take your second RMD by December 31 of the same year. Taking two RMDs in one year could bump you into a higher tax bracket.
What you pay in incomes taxes in retirement is not always lower than while working.
Just as important, more of your Social Security benefit might be subject to taxation. Or, if you are in a much higher bracket IRMAA surcharge/premiums might apply for your Medicare Part B and Part D premiums.
Consider using some of those monies to fulfill your charitable commitments – via a qualified charitable distribution.
But, because of the COVID situation, you do not have to take the RMD in 2020?