IRA REQUIRED MINIMUM DISTRIBUTIONS
In 2 years I will need to begin to take my Required Minimum Distribution, where is the safest place to invest this money?
Terry Says
Interesting question. Most people SPEND their RMD! The government requires a distribution because they want to get their taxes on your retirement money. But there is nothing that says you have to spend it! Try building up an account in a bank money market deposit account, so you'll have some resources in an emergency. If you have grandchildren, open a 529 college savings account at Fidelity or Vanguard. The money will grow tax-free and can be used by any of your grandchildren. (And if you need the cash, you can always take it back -- paying a small penalty on the earnings.)
