Calculating Your RMD (Required Minimum Distribution)

Finally being able to withdraw your hard-earned money from your retirement account should be a great feeling, right? Not if you’re getting hit with a hefty penalty from a missed or miscalculated RMD!

If you’re approaching age 73, you may be trying to figure how much money you are required to take out of your retirement account each year. With recent changes under the SECURE Act and SECURE 2.0, it’s more important than ever to stay on top of the latest RMD rules. Missteps here can be costly, but avoiding them is possible with the right guidance.

To avoid unnecessary tax penalties, click here for five easy steps for calculating your RMD.

For professional assistance with your RMD calculations and distribution requirements, contact our office at 516-294-5287 to schedule a time to discuss.