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To The Year-End Checklist, Add Mandatory Retirement Withdrawals

TedTed
in The Bullpen
FYI: Nothing good lasts forever, and so it is with tax-deferred retirement saving - that is, the deferred part.

Contributions to traditional IRAs and 401(k) accounts are not taxed upfront, but the U.S. government gets its due down the road. When you reach age 70-1/2, a certain amount of your tax-deferred savings in IRAs and most 401(k) accounts must be drawn down every year under the Required Minimum Distribution (RMD) rules. And younger people need may need to take RMDs on inherited IRAs.
Regards,
Ted
https://www.reuters.com/article/column-miller-retirement/column-to-the-year-end-checklist-add-mandatory-retirement-withdrawals-idUSL1N1NX1SJ
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