Under the SECURE act, which was passed by Congress just before Christmas, the new starting age to take Required Minimum Distributions (“RMD’s”) from tax-deferred retirement accounts (exs. an IRA, a 401(k), hereinafter “IRAs” for ease of reading) is now the year after you turn 72, up from 70 1/2. Also, you can continue to contribute to your IRA as long as you like, as long as you are still working.
Originally published in Lloyd Harbor Life - March 2020.
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