How Much Should You Get in Required Minimum Distribution Withdrawals?

How Much Should You Get in Required Minimum Distribution Withdrawals?
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Mike Valles
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When you decide you are ready to retire, you may want to start withdrawing funds from your retirement account(s). You will need to be a minimum age of 59½ before you are allowed to do so without penalty. If you have reached the age where you need to take out required minimum distributions (RMDs) (70½ in 2020 or 72), you will have to decide how much you want to take out—and when. If you are not careful, it is easy to make mistakes in the calculations.

Here are some guidelines that may help you decide the best age to retire and determine how large of an RMD you need.

Mike Valles
Mike Valles
Author
Mike Valles has been a freelance writer for many years and focuses on personal finance articles. He writes articles and blog posts for companies and lenders of all sizes and seeks to provide quality information that is up-to-date and easy to understand.
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