There are many milestones on the way to – and through – retirement. Starting at age 50 with the opportunity to make additional catch-up contributions to IRAs and
There are a few factors that should go into answering the question “which account do I withdraw from?”.
As advisors, we’ll think about several factors:
Sometimes dentists care so much for their patients and sacrifice so much for their employees that they short themselves and their own families.
There are some special situations that affect Required Minimum Distributions (RMDs) that you may need to be aware of; having a younger spouse, inheriting an IRA, holding an illiquid asset, having a late-in-the-year birthday and working past 70.5 can all impact the required distributions.
A spouse who is 10 years younger
IRA owners over age 70.5 can make charitable contributions directly from their IRA; this is called a Qualified Charitable Distribution (QCD)*. You can make charitable contributions from your IRA, of up to
In another post in this series we discussed how to calculate your Required Minimum Distribution (RMD). Once you know how much the RMD
Required Minimum Distributions (RMDs) from 401(k)s are treated differently for business owners. For those who don’t own a business or own less than 5% of the business, an RMD is not required from the 401(k) while they’re still working (they would still have to take RMDs from their IRAs,
Welcome to our series on RMDs – Required Minimum Distributions -- the distributions from retirement accounts (IRAs, 401ks, 403(b)s, 457 plans) that are required once the owner turns 70.5 years old.