SmartAsset on MSN10h
What Is the Penalty for Not Taking Your RMD?
As you approach retirement, it’s important to consider how required minimum distributions (RMDs) from your IRA or 401(k) ...
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3 Retirement Steps to Take in Your 60s to Avoid Huge RMDs in Your 70s
Money withdrawn from a tax-deferred retirement account is taxed as you begin to make withdrawals. Here are 3 ways to minimize ...
SmartAsset on MSN21h
Ask an Advisor: I Have $1.4 Million in IRAs. Can I Convert $160k/Year to a Roth to Save on RMDs Later On?
I am 70 and I have $1.4 million in traditional IRAs. Is it best to do $160,000 in Roth conversions for the next 1-3 years to reduce my high RMDs in about 5-10 years? That would put me in the 24% tax ...