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RMD Explained: The Retirement Tax Rule That Can Cost You Thousands

What is an RMD? A Required Minimum Distribution (RMD) is the minimum amount the IRS requires you to withdraw from traditional retirement accounts starting at age 73. Many retirees are surprised to learn that even if they don’t need the money, they still have to take the withdrawal. Miss it, and the penalty can be up to 25% of the amount that ...

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