How Much Is the Required Minimum Distribution (RMD) If You Have $250,000 in Your Retirement Account?
Required minimum distributions (RMDs) are a way for the IRS to ensure you eventually pay your fair share of taxes on tax-advantaged accounts like 401(k)s and traditional IRAs.RMDs begin the year you turn 73, and the exact amount you're required to withdraw varies depending on your account balance and age.To get a gist of how much your RMDs can be, we'll take a look at how it works for someone with $250,000 in their retirement account.Continue reading
Required minimum distributions (RMDs) are a way for the IRS to ensure you eventually pay your fair share of taxes on tax-advantaged accounts like 401(k)s and traditional IRAs.
RMDs begin the year you turn 73, and the exact amount you're required to withdraw varies depending on your account balance and age.
To get a gist of how much your RMDs can be, we'll take a look at how it works for someone with $250,000 in their retirement account.
