Motley Fool
Long-term investing & stock picks
On the Hook for RMDs in Retirement? 2 Big Mistakes That Could Cost You.
By newsfeedback@fool.com (Maurie Backman)
Read original article on Motley FoolThe nice thing about saving for retirement in a traditional IRA or 401(k)is getting to contribute on a pre-tax basis. If you're a decent earner in a higher tax bracket for much of your career, that tax break could be invaluable
On the flipside, once you turn 73 or 75, depending on your year of birth, you'll be forced to take required minimum distributions, or RMDs, from one of these accounts. And those could create a tax headache if you aren't careful.
Image source: Getty Images.
This story was originally published on Motley Fool. DennTech aggregates headlines from top crypto publications to keep traders informed.
Read full article on Motley Fool