3 of the Worst RMD Mistakes Retirees Make -- and How to Avoid Them
Steer clear of these to avoid financial pain.
Overview
Saving for retirement in a traditional individual retirement account (IRA) or 401(k) is appealing because you get an up-front tax break on your money. But once you turn 73 or 75, depending on the year you were born, you'll be forced to take required minimum distributions, or RMDs, from a traditional retirement account.
RMDs can be a hassle if they're not planned for carefully. In fact, here are three of the worst RMD mistakes retirees risk making.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
- GE Vernova's Backlog Is Bigger Than Some Countries' GDP. Here's What's Actually Inside the $176 Billion.
- The 30-Year Treasury Now Out-Yields Dividend Stocks by 2.2 Points. History Says What Followed the Last Time.
- Apple Announced Its Largest-Ever Stock Buyback Under Tim Cook's Leadership. Here's Why the Size of the Repurchase Program Matters for Shareholders.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.