Reported 3 days ago
At 76, understanding Required Minimum Distributions (RMDs) from your 401(k) is crucial. You must withdraw approximately $19,409 by year-end, ensuring to pay taxes on these withdrawals. Options to minimize taxes include Qualified Charitable Donations or converting funds to a Roth IRA. It's essential to devise a strategy for asset withdrawals to maintain your investment portfolio while meeting RMD obligations. Consulting a financial advisor can help tailor your approach for effective retirement planning.
Source: YAHOO