One of the biggest benefits of saving in traditional retirement accounts like a 401(k) or IRA is the upfront tax break you receive. You won't owe any income taxes on contributions in the year you make ...

In general, anyone with a tax-deferred retirement account must take withdrawals called required minimum distributions (RMDs) beginning at age 73. RMDs are calculated by dividing the retirement account ...

Do Roth IRAs Have Required Minimum Distributions? No, Roth IRAs do not have required minimum distributions, at least while the account holder is still alive. But if you are the beneficiary of a Roth ...

Many retirement savers choose to take advantage of retirement plans like a 401(k) or IRA while they're working. The big benefit is that you get to deduct your contributions from your taxes in the year ...

Tax-deferred accounts such as traditional IRAs and 401(k) plans allow workers to delay paying taxes on qualified contributions. But the government must eventually get its due. Upon reaching a certain ...

If you're 73 or older, you probably have to take RMDs from at least some of your retirement accounts this year. If you were supposed to take a 2024 RMD but didn't, you should do this as soon as ...

The government imposes RMDs on anyone who turns 73 or older in 2025, and on many who inherit IRAs. Taking your RMD early in the year can lower future RMDs over the long run. You must complete your RMD ...