By Sandra Block From Kiplinger’s Personal Finance When confronted with a task that’s necessary but joyless, it’s human nature to put it off until the last minute. And for some retirees, taking withdrawals from their retirement savings accounts is another chore that falls to the bottom of their to-do list. Investments in traditional Individual Retirement…

By Sandra Block Kiplinger’s Personal Finance Congress late last year revised the rules on required minimum distributions (RMDs) that retirees must start taking in their 70s from tax-deferred retirement accounts. Here’s what you need to know: In 2023, the starting age for taking RMDs from traditional individual retirement accounts, 401(k)s, and other tax-deferred plans increases…

By Elliot Raphaelson From Tribune Content Agency IRA expert Ed Slott (irahelp.com), in a recent article, discussed an option for required minimum distributions (RMDs) that most investors are not aware of. When investors see the value of their equities fall, they don’t like selling shares in order to take required minimum distributions. Slott pointed out…

When you decide you are ready to retire, you may want to start withdrawing funds from your retirement account(s). You will need to be a minimum age of 59½ before you are allowed to do so without penalty. If you have reached the age where you need to take out required minimum distributions (RMDs) (70½…

When you make a contribution to a traditional Individual Retirement Account or 401(k), the tax liability on the funds you contribute is deferred until you take the money out of the account. That allows you to take full benefit of the interest earned by those accounts. But, the government is going to get its tax…

When it comes to your retirement, you did everything right to be ready. You developed a retirement plan that took into account your lifestyle, health care, and potential bumps in the road. And, you went ahead and created a budget to ensure that your retirement plan would come to fruition. Do you have everything ready…