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The 10-year withdrawal rule confused many and new clarifying rules are expected this year

Use SmartAsset's RMD calculator to see what your required minimum distributions look like now and in the future. Enter your retirement account balance at the end of the previous year, your age and the expected rate of return on the account to calculate your RMDs. Do you have retirement planning questions? Speak with a financial […] The post Required Minimum Distribution (RMD) Calculator appeared first on SmartReads by SmartAsset.

Use SmartAsset's RMD calculator to see what your required minimum distributions will look like now and in the future. Enter your retirement account balance at the end of the previous year, your age and the expected rate of return on the account to calculate your RMDs. Do you have retirement planning questions? Speak with a […] The post Required Minimum Distribution (RMD) Calculator appeared first on SmartReads by SmartAsset.

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.

Proactive ways to lighten the tax load include deferring or accelerating income, tax-loss harvesting and bunching several expenses into one year.