Quote:
Originally Posted by Rich Biebel
“You do not have to take a 2020 Required Minimum Distribution from your IRA, if you want. Our IRA's have taken a hit lately, this allows you to leave the funds in and (hopefully) watch the account recover.”
Thankyou for that info Julie.
For me that is helpful.
The IRS also lifted the age limit on IRA contributions starting 2020 I believe and those two things really helps if you’re working and well past the usual retirement age as I am.
You save it but end up giving some of it back in taxes.
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Yes, the date is now 72. If you were already stuck with the 70 1/2 rule, then you have to stay with that.