Avoid These 3 Common Required Minimum Distribution (RMD) Mistakes
Most Americans 73 and older won't have to worry too much about required minimum distributions (RMDs) again for a while. They have nearly 11 months left to take their 2025 distribution. But those who turned 73 last year may still be trying to sort out their 2024 RMD.These mandatory annual withdrawals are the government's way of forcing you to take money out of select retirement accounts so it can get its cut. But they can also be confusing for those who are new to them. Here are the three RMD mistakes you should avoid if you want to pay the IRS as little as possible.Image source: Getty Images.Continue reading
Most Americans 73 and older won't have to worry too much about required minimum distributions (RMDs) again for a while. They have nearly 11 months left to take their 2025 distribution. But those who turned 73 last year may still be trying to sort out their 2024 RMD.
These mandatory annual withdrawals are the government's way of forcing you to take money out of select retirement accounts so it can get its cut. But they can also be confusing for those who are new to them. Here are the three RMD mistakes you should avoid if you want to pay the IRS as little as possible.
Image source: Getty Images.
