Friday, May 09, 2008
When To Make Withdrawals From Retirement Accounts
The government is happy to let you save money tax-free in a retirement account -- but you have to start withdrawing money from the account when you turn 70½.
The Required Minimum Distribution (RMD), as the Internal Revenue Service calls it, is the minimum amount you are required to withdraw each year from your retirement account. The first withdrawal is required in the calendar year that you turn 70½ -- the year you turn 70 if your birthday is before June 30 -- and you must make additional minimum withdrawals in every subsequent year.
When To Make Withdrawals From Retirement Accounts
Source: The Street
The Required Minimum Distribution (RMD), as the Internal Revenue Service calls it, is the minimum amount you are required to withdraw each year from your retirement account. The first withdrawal is required in the calendar year that you turn 70½ -- the year you turn 70 if your birthday is before June 30 -- and you must make additional minimum withdrawals in every subsequent year.
When To Make Withdrawals From Retirement Accounts
Source: The Street
Permalink posted by armandn @ 11:09 AM 
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