Once you reach the age of 70 ½, you must start to better understand the required minimum distributions (RMDs) rules. That’s because, upon reaching this…
IRA Financial Group’s Adam Bergman discusses strategies for circumventing or delaying RMDs with a Roth 401k Plan. Click Here to Listen
What is an RMD? Once you reach the age of 70½, you must start to better understand the required minimum distributions (RMDs) rules. That’s because,…
The account owner is taxed at his or her income tax rate on the amount of the withdrawn RMD
The IRA or retirement plan account owner is ultimately responsible for calculating the amount of the RMD.
A RMD is calculated for each account by dividing the prior December 31st balance of that IRA or retirement plan
first RMD payment can be delayed until April 1st of the year following the year in which he or she turns 70 ½.
An RMD is the minimum amount that individuals must withdraw from their retirement account annually once they reach age 70 ½