I had forgotten but have a financial advisor I meet with every 6 months that will not let me forget. Kind of cool that I live of pensions with excess so when I’m forced I’ll have to spend more 😆
It’s called Required Minimum Distributions(RMD’s). There are very specific rules(and percentage amounts by age) for withdrawals from tax deferred accounts. My understanding is all IRA accounts can be merged to calculate your RMD…but each 401k must be withdrawn from separately.
So where's the calculator? All you need to remember is to take that RMD before the end of the year. I usually set it for my birthday/in October. And my brokerage always reminds me. If they don't, I can easily go online and find out the amount.
I am going to donate my IRA to charity to avoid letting the Corrupt US Government get my money. The penalty use to be50%. The corrupt government was feeling generous.😂
I am age 70 in ok health, retired, 8K monthly income, $300K In the bank in CD and have Zero debt. 1. What state or Country have you retired in? 2. I feel the USD will go down very soon and where is a good Country to put my money. 3. Do you think Argentina is a good place to retire. 4. I want to go to a weight loss retreat.
Hi there, thanks so much for watching. It’s not our place to give you specific advice of what you should do with your money or where to put it. We try to share our research so that you can understand different situations and draw your own conclusions from it. Argentina does look promising with the new administration so I think it’s a place to consider but definitely develop your own list of criteria. Your in great financial shape and you’re smart to be looking at improving your physical condition. We don’t have any firsthand experiences with weight loss, retreats to be able to recommend one, why wait though, start today by eating, Whole Foods that are nutritious and increase your activity.
Reminder me, thanks!!!!
Might be something this Canadian should check into as well.
I had forgotten but have a financial advisor I meet with every 6 months that will not let me forget. Kind of cool that I live of pensions with excess so when I’m forced I’ll have to spend more 😆
It’s called Required Minimum Distributions(RMD’s). There are very specific rules(and percentage amounts by age) for withdrawals from tax deferred accounts. My understanding is all IRA accounts can be merged to calculate your RMD…but each 401k must be withdrawn from separately.
That's why financial advisors are worth every penny
So where's the calculator? All you need to remember is to take that RMD before the end of the year. I usually set it for my birthday/in October. And my brokerage always reminds me. If they don't, I can easily go online and find out the amount.
So interesting...will talk with my advisor...thanks for sharing.
Hi Jan. We’re happy to help. Thanks for following us 😁
I am going to donate my IRA to charity to avoid letting the Corrupt US Government get my money. The penalty use to be50%. The corrupt government was feeling generous.😂
Lol...yes, I saw that charity possibility in the article but they weren't clear how to pull that off. Taxes huh?. I feel your pain.
I am age 70 in ok health, retired, 8K monthly income, $300K In the bank in CD and have Zero debt. 1. What state or Country have you retired in? 2. I feel the USD will go down very soon and where is a good Country to put my money. 3. Do you think Argentina is a good place to retire. 4. I want to go to a weight loss retreat.
Hi there, thanks so much for watching. It’s not our place to give you specific advice of what you should do with your money or where to put it. We try to share our research so that you can understand different situations and draw your own conclusions from it. Argentina does look promising with the new administration so I think it’s a place to consider but definitely develop your own list of criteria. Your in great financial shape and you’re smart to be looking at improving your physical condition. We don’t have any firsthand experiences with weight loss, retreats to be able to recommend one, why wait though, start today by eating, Whole Foods that are nutritious and increase your activity.