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Required minimum distributions (RMDs) -- the mandatory annual withdrawals seniors have to take from most retirement accounts beginning in the year they turn 73 -- can sound like a big deal. After ...
Just as the name suggests, required minimum distributions are a minimum amount of money that must be withdrawn from a traditional IRA, rollover IRA, or 401(k) account once you turn 73 years old ...
Anyone with a 401(k), traditional IRA or similar tax-deferred retirement account eventually is going to face the requirement to start taking required minimum distributions (RMDs) from their accounts.
Image source: Getty Images. 1. Time when you begin withdrawals strategically. You must take your first RMD by April 1 of the year after you turn 73.
See, while you don't have to take your very first required minimum distribution -- or RMD -- from most tax-deferred accounts until April 1 of the year after you turn 72, for every year beyond that ...
The 4% rule says to take out 4% of your tax-deferred accounts — like your 401(k) — in your first year of retirement. Then every year after that, you increase your retirement withdrawals by the ...
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