Ms Jones mom received a 14 page document in the mail the other day that basically said "Hey lady you need to take a RMD this year" Required Minimum Distribution : This is basically when you must by law start taking money out of your 401k or (pre-taxed) plans. If you don't start taking money out at the right age the IRS could penalize you dearly. Please answer this weeks poll and see if you can now guess how old Ms Jones mom really is and how they are keeping n' up.
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*RMD starts at 70 1/2
Tuesday, April 14, 2009
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1 comment:
I think since it is a *required* minimum distribution by law, it must be the oldest age choice listed: 70 1/2 years old. Correct?
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