73 min dist distribution requirements
Hello Terry thank you for your wonderful columns answers and expertise anyway I just turned 70 and I guess what 73 there’s a distribution requirement I don’t have much I have about 60,000 in a 457 plan is that part of this requirement drawdown and would you advise me moving that money somewhere else until I heard a Roth IRA or something like that thank you so much
Terry Says
It’s probably time to do a direct rollover to a traditional IRA (no taxes involved) because you will have a wider choice of more conservative investments.
Please read this column: https://www.terrysavage.com/rollover-now/
Then in three years it will be time to start taking small required distributions. Your new custodian at Fidelity or Vanguard will calculate those amounts for you.
