If you have a retirement account, like a 401(k) or a traditional IRA, then you need to know about Required Minimum Distributions (RMD’s). Generally speaking, starting when you reach age 70 ½ (or when you retire, if that’s later), you’ll have to withdraw a certain amount each year from your retirement account. How much do you have to withdraw? This depends on the balance in your account and your life expectancy. Each year, you take the balance of your account on December 31st of the prior … [Read more...] about Q&A: Required Minimum Distributions