How Much Is the Required Minimum Distribution (RMD) on a $250,000 Retirement Account?
Tax-deferred accounts such as traditional IRAs and 401(k) plans allow workers to delay paying taxes on qualified contributions. But the government must eventually get its due. Upon reaching a certain age, accountholders must take required minimum distributions (RMDs) annually, meaning they must withdraw (and pay taxes on) a percentage of the money held in certain […]
Retirees on Social Security Just Got Some Excellent News
Getting most or all of your income from Social Security in retirement isn’t ideal. And the reason is that you’re looking at a pretty significant pay cut if you don’t have other income at your disposal. If you earn an average salary, you can expect Social Security to take the place of about 40% of […]
