For a long time, the RMD age was 70 1/2 years old, but it now stands at 73. If you turned 73 in 2024, you must take your first RMD by April 1, 2025. Subsequent RMDs are due by the end of each ...

Specifically, if you have money in tax-deferred retirement accounts, such as a traditional IRA, 401(k), or 403(b), the RMD rule applies. If you have Roth IRAs or other Roth-style accounts ...

That’s why understanding and avoiding common RMD mistakes and their implications can help you potentially save money. So, in no particular order, let's explore seven potential tax implications ...

It's called a required minimum distribution (RMD), in fact. Just because you've now got money coming out of a retirement account, however, doesn't mean you have to stop making the most of what you ...

And the penalty for missing an RMD is quite steep: up to 25% of the amount you failed to withdraw. Plus, you'll still need to take the distribution and pay taxes on it. So, here's what you need to ...

Whether this will be your first RMD or if you've now received several, there are some things about required minimum distributions you might want to know...particularly if your plan is to reinvest ...

Each has its pluses and minuses, but none will change the amount of your RMD – that’s based on the value of your retirement accounts at the end of the previous year and your age. A financial ...

However, if you don't need the money to live on, wait until December to take your RMD and ask the sponsor to withhold a big chunk for the IRS, enough to cover your estimated tax on the IRA payout ...

Richard Mofe-Damijo (RMD) has worn many hats in his legendary Nollywood career, as an actor, lawyer, former commissioner, and now, producer. But even as a veteran in front of the camera ...