No. of Recommendations: 0
My guess is the post contained a typo. The account owner must begin withdrawals from a
traditional IRA no later than April 1 of the year following the year in which he/she attains age 70
1/2. If postponed to that date, then a second withdrawal must occur no later than December 31 of
that same year.


Thanks for your generousity, Pixy. That post was from the Foolish (absent minded) Prof. Somewhat of a slip of the gears. For me it works out to be about 71.5, but only because my birthday is Oct 16: April 16 equals 70.5; Oct 16 equals 71; then April 1 almost equals 71.5.

Your last sentence is pretty important. It means I don't want to wait until 71.5 and get a double hit on income tax.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.