Please enable JavaScript to view the comments powered by Disqus.
Advertisement
Slide Show

1 of 12

11 Strategies for IRA Withdrawals in Retirement

Getty Images

Advertisement

When you invest in an IRA, 401(k) or other tax-deferred plan, you make a deal with Uncle Sam: You get years of tax-deferred growth, but you have to start taking money out—and give a cut to the IRS—after you turn age 70½. The calculations can be complicated, and the penalties for missteps are steep: If you don’t take the required minimum distribution by the deadline each year, you’ll pay a penalty of 50% of the amount you should have withdrawn.

The prospect of taking RMDs and facing the tax bill can be daunting, but there are a number of strategies you can use to minimize taxes, make the most of your investments and avoid costly mistakes.

SEE ALSO: Taxes in Retirement: How All 50 States Tax Retirees

Advertisement

Advertisement

View as One Page

Advertisement
Sponsored Financial Content