Understanding Required Minimum Distributions (RMDs): What Every American Senior Needs to Know
When it comes to retirement, saving money is only one part of the story. There’s also the matter of withdrawing—when and how—and making sure you follow the rules so you don’t face costly penalties. One of the most important rules retirees need to know is about Required Minimum Distributions, or RMDs. If you have a retirement account like a traditional IRA or a 401(k), RMDs may affect you once you reach a certain age. This article breaks it all down: what RMDs are, when they kick in, how they work, and what happens if you miss them.
