Broker Check
Ryan S. Christensen, CFP®
Ryan S. Christensen, CFP®
Kades-Margolis Financial Advisor of GWN Securities, Inc
https://4kmc.com/kades-margolis-advisors/ryan-christensen/ 717-725-3460

Finances, and particularly investing and retirement planning, can be a little overwhelming and confusing.  My goal is to simplify the process and make it easier to comprehend. The key to being a successful investor is knowledge, patience and discipline.  I help my clients to understand the key role they play in their financial future."

Estimate Your RMD

When you reach age 73, the IRS requires you to begin taking annual withdrawals from your retirement accounts. Because these rules have changed recently, it is important to understand how they apply to your specific situation. You can use this tool to estimate your Required Minimum Distribution (RMD) based on your age and account balances.

Inputs

Exclude any Roth IRA and/or Roth 401(k) account balances from this number; neither are subject to RMDs.
$0 $5,000,000
72 120

Results

RMD regulations have shifted in recent years, including an increase in the starting age and updated life expectancy tables. If this figure differs from what you expected, it likely reflects these new federal guidelines. While this estimate provides a baseline, a tax or financial professional can help you evaluate how these rules apply to your specific goals.

Withdrawals from your 401(k), traditional IRA, or any other defined contribution plans are taxed as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty.

Note:

This estimate uses the IRS Uniform Lifetime Table, which applies to most retirees. This calculation assumes that:

  • You are unmarried.
  • or You are married, and your spouse is not more than 10 years younger than you.
  • or Your spouse is not the sole beneficiary of your account.

If your spouse is your sole beneficiary and is more than 10 years younger than you, a different IRS table applies, typically resulting in a lower required withdrawal.

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