mandatory distribution age
Hi,
I turn 72 on Dec.19th of this year. Do I have to take the first mandatory distribution before the end of this year then or can it be taken before I turn 73- so some time next year?. Thanks
Terry Says
You can take your first RMD in the year in which you turn 73. So you get another year to keep the money growing. But in case of a down market between now and then, you might want to move some money to a MM fund inside your retirement account for easy and painless withdrawal sometime next year!
