By Terry Savage on March 08, 2020 | Financial Planning / Retirement

I have a sep ira. When do I have to start withdrawing money from my ira, is it at 70 years old ? I will be turning 60 years old and still working full time.

Terry Says

Under the most recent law, you will not be required to take annual minimum withdrawals until you reach age 72. Of course, after age 59-1/2, you can take money out at any time without penalty — but must pay ordinary income taxes on the withdrawals.

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