Turning 73? The RMD Deadline You Can't Afford to Miss.
It's a blunder that could cost you big time.
Overview
Using a traditional IRA or 401(k) to save for retirement can make a lot of sense when you're in a higher tax bracket or need the up-front tax break on contributions these accounts offer. But there's a reckoning to be dealt with once retirement rolls around.
Funds in a non-Roth retirement account are subject to required minimum distributions, or RMDs. And if you were born before 1960, RMDs start at age 73.
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Source
Originally published at www.fool.com.
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