What should you know about RMDs?

FINANCIAL FOCUS COLUMN

  • Jasen Agee
    Jasen Agee

    You may spend many decades contributing to your IRA and 401(k), but eventually you will likely need to take the money out — in fact, you must take the money out or face penalties. What should you know about these mandatory withdrawals?

    Here are some of the basics:

    •What are they called? Mandatory withdrawals are technically called required minimum distributions, or RMDs.

    •When must I take RMDs? If yo…