Avoid These 5 Common Required Minimum Distribution (RMD) Mistakes
Required minimum distributions (RMDs) are the minimum amounts you must withdraw annually from certain retirement accounts, like traditional IRAs and 401(k)s. They may not be fun, but they are necessary.For many retirees, RMDs begin at age 73. However, if you were born in 1960 or later, you have until age 75 to start RMD withdrawals. RMD guidelines are stringent and have changed over the years, making it no surprise that many of us make an RMD-related mistake from time to time.Here are some of the most common -- so you can hopefully avoid them.Continue reading
Required minimum distributions (RMDs) are the minimum amounts you must withdraw annually from certain retirement accounts, like traditional IRAs and 401(k)s. They may not be fun, but they are necessary.
For many retirees, RMDs begin at age 73. However, if you were born in 1960 or later, you have until age 75 to start RMD withdrawals. RMD guidelines are stringent and have changed over the years, making it no surprise that many of us make an RMD-related mistake from time to time.
Here are some of the most common -- so you can hopefully avoid them.
