After you turn 70½, you need to start taking required minimum distributions from your 401(k)s and traditional IRAs. The exact amount is based on the balance in your retirement accounts as of December 31 of the previous year and your life expectancy according to the IRS.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
-
Five Reasons to Take Social Security Early (and Four Reasons to Wait)Are there good reasons to take Social Security early? While many experts say it's best to wait until full retirement age to claim benefits, here are some reasons to start early.
-
A Letter of Wishes: No Legal Power But Powerful NonethelessA letter of wishes lets you explain, in plain language, your intent behind your estate documents, potentially heading off any misunderstandings or disputes.
-
Rent or Buy? Which Is Best in Retirement?Making Your Money Last Renting isn't right for all retirees, but it does offer flexibility and it frees up cash.
-
How to Achieve Your 2022 New Year's ResolutionsBrandon Copeland You've already made your New Year's resolutions. Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland explains how you can stick with them and accomplish them.
-
Santa's End-of-the-Year Finance TipsBrandon Copeland Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland shares a few ways you can improve your finances before 2022 gets here.
-
Where to Retire in Floridaretirement Some cities in the Sunshine State are better suited for retirees than others.
-
3 Better Investments Than Powerball
savings Buying Powerball and Mega Millions tickets is no substitute for sound financial planning.
-
Best Bank Accounts for Retirement
retirement These checking accounts offer attractive perks to retirees.
-
10 Timeless Financial Tips From Knight Kiplinger
savings Sage advice about saving, spending and investing never goes out of style.
-
4 Overlooked Tax Breaks for Retirees
Tax Breaks Learn how to keep your tax bill low in retirement.
