No. of Recommendations: 0
I remember something about the value of the IRA at the end of the last trading day of the previous year......that is one number in the equation and I can get that. I would just need to know the "number" they use for my life expectancy. Does that change as I get older?

I believe that in your case your life expectancy is found in Table I of Appendix C.
So if you are 55 years old, your life expectancy is 29.6 years. This means that the percentage of this years withdrawal is 1 divided by 29.6 or about 3.38%. Multiply this percentage by the IRA value at the end of the prior year to get the dollar amount that will be withdrawn.
Your life expectancy gets smaller by a little less than 1 year for each year you age.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.