RMD’s

By Terry Savage on September 20, 2022 | Financial Planning / Retirement

Terry, your article in the Chicago Tribune on Sunday 9/18 I believe should have mentioned that if you were born before 1949 the the age for RMD,s is 70 1/2 not 72

Terry Says

That’s splitting hairs. You must take your first required minimum distribution for the year in which you turn age 72 (70 ½ if you reach 70 ½ before January 1, 2020). But that’s TWO years ago!! So if you were required to start at age 70-1/2 you’re ALREADY TAKING RMDS!

For those just coming to the party, 72 is the relevant age!

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