My clients are often surprised to learn that the federal government requires them to take distributions from their traditional IRAs and employer pension accounts when they reach a certain age. For most, required minimum distributions (RMDs) must begin on or before April 1 following the year a person turns 70 ½. RMDs must typically continue for the rest of a person’s life.
Many of my clients worry about outliving their money. With increasing life expectancies, running out of money is becoming more of a problem for retirees. To continue reading click here.