Calculating Required Minimum Distributions

According to the IRS, a Required Minimum Distribution (RMD) is the minimum amount of money a retiree must withdraw yearly beginning with the year in which he or she retires or when age 70 ½ years of age is reached, whichever is later. When a person reaches age 70 ½, they are generally required to … Continue reading Calculating Required Minimum Distributions

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Age and Required Minimum Distributions

Most financial planners tell their clients to diversify when setting aside money for retirement. Having retirement savings in multiple accounts and multiple products makes sound financial sense. By funding retirement savings in employer-sponsored 401(k) plans, Individual Retirement Accounts (IRAs), and stocks, bonds, and mutual funds, a person can help ensure a stable financial future when … Continue reading Age and Required Minimum Distributions