Required Minimum Distributions and Your Traditional IRA

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Traditional IRA and other Retirement Planning topics.

Will I have to take Required Minimum Deductions with a Traditional IRA?

Required Minimum Distributions and Your Traditional IRA

Traditional IRAs don't sit around forever earning interest. At the time you reach 70 1/2 years old you must take what is called, “Required Minimum Deductions”. The Required Minimum Deductions will be calculated by the trustee of the IRA. There is also a penalty fee if the Required Minimum Deduction is not administered by the due date.

   

Comments

12/18/2008 9:27:32 AM
C.Roush said:

WHERE IS THE ....... TABLE FOR RMD??????? ALL I AM LOOKING FOR IS THE # TO DO THE MATH ON MY END OF YEAR IRA INVESTMENTS. CALULATORS EVERY WHERE.... BUT NO BASIC TABLE BY AGE!!!!!!!!!!!!!




Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Retirement Planning Tip Site? Request a Tip Now!


Guru Spotlight
Joe Wallace