Author Topic: IRA Withdrawals  (Read 2473 times)

WES

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IRA Withdrawals
« on: August 14, 2013, 04:19:43 PM »
Has anyone begun IRA withdrawals? Any troubles? Obviously it would be difficult to accumulate the cash to meet a traditional IRA's RMD under LC alone, but with a Roth it wouldn't matter, as there is no RMD. Or are you all so very young that you can't imagine being age 59 1/2 . . .

core

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Re: IRA Withdrawals
« Reply #1 on: August 14, 2013, 04:48:13 PM »
Obviously it would be difficult to accumulate the cash to meet a traditional IRA's RMD under LC alone

Why?  You can just liquidate as many notes as you need to meet your RMD no matter how large it is.

cnmor54

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Re: IRA Withdrawals
« Reply #2 on: August 15, 2013, 11:00:41 AM »
I'm 58 1/2. What's RMD?

core

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Re: IRA Withdrawals
« Reply #3 on: August 15, 2013, 11:07:49 AM »
What's RMD?

Required minimum distribution.  i.e. the amount the government forces you to take out of your tax deferred account each year (even if you don't need it) so they can tax you.

cnmor54

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Re: IRA Withdrawals
« Reply #4 on: August 15, 2013, 01:27:52 PM »
Thanks Core.

Just checked it out on the IRS website. Don't have to worry about it until age 70.