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First time posting in Fooldom. My question is from my in-laws. He (67) and her (64) have yet to exercise their 401-K withdrawl option and would like advice on ways to reduce the amount of taxes they have to pay when they start taking the money out. Also, is it true that they have until age 70 to take all the money out of an IRA?

They get plenty of income from their pension and rental properties - so income is not an issue here. They are only looking for options on how to reduce the amount of taxes they need to pay upon withdrawl.

I realize this post may spawn more questions than answers. I am just starting my inquiry for them and was just hoping to get basic advise for now.

Thanks in advance.
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