Quote:
Originally Posted by Crowbob
You will soon, though.
You have until April of the year following your 73rd birthday to start taking the required minimum distribution (RMD) without taking a hit by the IRS which is 25% of the shortfall. You can minimize the hit to 10% by using a sort of ‘catch-up’ provision, though.
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I did take $5k out but I just put it in a CD so I dont count taht as getting into the retirement. Yes I will pay taxes on it but when you have almost no income taxes are minimal.