An RMD or Required Minimum Distribution is the amount of money you have to withdraw from your account once you reach the age of 70 1/2. An IRA, SEP IRA, SIMPLE IRA, 401(k) or retirement plan account has a required minimum distribution, however a Roth IRA does not. If you don’t take out your RMD you can pay penalties of up to 50%! Educate yourself so you don’t lose your money and properly prepare!
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