Retirement: 5 tips for people turning 70½, taking a required minimum distribution or RMD
Did you turn 70½ last year? While it’s not a classic milestone, like 18, 21 or 65, it comes with its own rewards and responsibilities.
According to the IRS, the year you turn 70½ is when you must begin withdrawing funds from a retirement account, even if you don’t need the money yet. This withdrawal is called a required minimum distribution, or RMD.
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