3 Legal Ways to Avoid Your Required Minimum Distributions (RMDs)

It's easy to think of your retirement savings as your money. After all, you earned it. But when you turn 73, the government comes along to remind you that you still owe it a cut of the money in your tax-deferred accounts.It does this by forcing you to take required minimum distributions (RMDs). These are mandatory annual retirement account withdrawals that vary based on your age and the amount of money in your account. If you fail to take out your RMD as scheduled, you'll pay a 25% penalty on the amount you should have withdrawn.Often, RMDs aren't that big of a deal because the amount you're withdrawing for living expenses already covers it. But if you still need to take your RMDs and you really don't want to, you can use three strategies to avoid them without aggravating the IRS.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool