Ra Balance News Today

As you age, the rules for withdrawing money from your IRA change. For many years, retirees had to start withdrawing money after age 70 1/2. Under new rules, you must start taking required minimum distributions (RMDs) every year after age 73, or face steep IRS penalties. While the specifics can get complicated, the basics boil […] The post Rules for Cashing Out Your IRA After Age 70 appeared first on SmartReads by SmartAsset.

Let's get this out of the way upfront: Having a large IRA balance isn't exactly a "problem" as much as something you need to plan around. The unfortunate truth is that no matter how much money you...