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Continue reading → The post IRA Required Minimum Distribution (RMD) Table for 2023 appeared first on SmartAsset Blog. ... 2.9 116 2.8 117 2.7 118 2.5 119 2.3 120 and over 2.0 How to Calculate ...
If you’ve reached age 72, you must take RMDs. Use this table as a guide.
A required minimum distribution, or RMD, is the amount of money that the IRS requires you to withdraw annually from certain retirement plans the year after you turn 73 years old.
Retirement planning is hard, even if you've built up a decent amount of money. There are retirement calculators and other resources online, but you don't have to work all of this out on your own.
The hardship distribution will consist of a pro-rata share of earnings and basis and the earnings portion will be included in gross income unless you have had the designated Roth account for 5 years and are either disabled or over age 59 ½. Can withdraw up to $10,000 for a first time home purchase down payment with stipulations.
For 2025, employees aged 50 and up who participate in most 401(k) plans or the federal government’s Thrift Savings Plan can save up to $31,000 annually, including a $7,500 catch-up contribution.