How Much Do You Have to Withdraw?
Calculating your RMD amount involves two main factors:
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The balance of your retirement accounts as of December 31 of the previous year.
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A life expectancy factor derived from IRS life expectancy tables. These tables take into account your age and, in some cases, your beneficiary’s age (if you have a spouse significantly younger, for example).
You divide the account balance by the factor (from the tables) to arrive at the minimum amount you must take out. You can always withdraw more if you want or need to.
