Reminder: Required minimum distributions (RMDs) must be taken by December 31.
RMDs are mandatory withdrawals from certain retirement accounts, generally after you reach age 70½.
You must take a withdrawal by December 31 if the rules apply to you — and there’s a hefty penalty for procrastinating. Missing the deadline could cost you 50% of the amount you were required to withdraw.
Call now to make sure you’re in compliance with the RMD rules. We’re here to help.
Written by: Doug Rodrigues