Reported 2 days ago
As of 2024, the age for required minimum distributions (RMDs) has been raised to 73, allowing retirees more time to grow their investments tax-deferred. Additionally, those born in 1960 or later can postpone RMDs until age 75. This change may affect taxable income and Medicare premiums, but offers charitable giving opportunities through Qualified Charitable Distributions, which can count towards RMDs without incurring taxes. Moreover, Roth 401(k)s are now exempt from RMDs, enabling further tax-free growth for retirees.
Source: YAHOO