You save throughout your working life in a tax qualified account, you’ve retired and are living within your means, your taxes are at a level that you feel are manageable, and now you have to pay more! Yes, it is MRD time.
Each October we start working on the minimum required distributions that clients have to take. If you are 70.5 yrs. old, you must begin withdrawing funds from your qualified retirement accounts and pay tax on that withdrawal. The penalty for under withdrawing is 50%. To help you avoid this penalty, find a MRD table to help calculate what you must withdraw.

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