For many investors entering their 70s, diligently contributing to and saving in tax-deferred retirement accounts must soon turn to making mandatory annual withdrawals. That’s because the government requires retirees to take required minimum distributions (RMDs) from such accounts after a certain age. Retirees may find RMDs to be a bit daunting, partly because of the steep penalties for withdrawing too little. But RMDs really aren’t so complicated once you understand a few basics. Call us; we are happy to help you take a look at how to calculate your RMDs, how to manage the distributions effectively, and how to potentially reduce the associated tax hit. We’re always here to help.
