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Kiplinger
Kiplinger
Business
Joe F. Schmitz Jr., CFP®, ChFC®, CKA®

RARE PHOTOS: Two alternatives to required minimum distributions rmds | Vintage Vibes

Uncle Sam Kiplinger Social Security
Gold and silver piggy banks facing each other against a purple background.

Here’s my simple explanation of required minimum distributions (RMDs): At age 73 or 75 (if you were born in 1960 or after), Uncle Sam knocks on your door and asks you to pay taxes on your tax-deferred investments.

You’ve gone perhaps years without paying taxes on these accounts, and he’s $37 trillion in debt. In more technical terms, an RMD is when you take out a specific percentage (based on the IRS life expectancy table) from your tax-deferred investments (401(k)s, IRAs, etc.) and pay taxes on it.

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