How to Prepare for RMDs Starting at 75 -- Even if You're Only 60 Right Now
You have a prime opportunity to lessen the blow.
Overview
If you're 60, retirement may be getting closer. But if you have your savings in a traditional IRA or 401(k), you may still be a good number of years away from having to take required minimum distributions, or RMDs.
Unless you have a Roth retirement account, RMDs kick in at age 75 for anyone born in 1960 or later. The good news is that if you're 60 today, you still have more than a decade to prepare. And taking a few proactive steps now could make RMDs easier to manage later.
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Details
Source
Originally published at www.fool.com.
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