This Stealth RMD Trick Could Save You Thousands of Dollars in Taxes
It's a tactic worth exploring.
Overview
If you have money saved in a traditional retirement account, required minimum distributions (RMDs) are one of the less pleasant realities you might eventually have to face.
Once you turn 73 or 75, depending on your year of birth, you'll be forced to take mandatory withdrawals from your traditional IRA or 401(k) each year. If you don't take those RMDs, you'll face a 25% penalty on whatever funds you don't remove.
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Details
Source
Originally published at www.fool.com.
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