When you reach the age of 70 ½ the IRS requires that you start taking distributions from your qualified retirement accounts (IRA accounts, 401ks, 457 plans or other tax-deferred retirement savings plans like a TSA, SEP or SIMPLE). This is called a required minimum distribution, often referred to as an RMD.
RMD can be calculated on a per account basis, you can use the following online RMD calculator to figure out how much you will be required to take out RMD for each account each year, then add up to get your total annual RMD.
RMD can be calculated on a per account basis, you can use the following online RMD calculator to figure out how much you will be required to take out RMD for each account each year, then add up to get your total annual RMD.
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