The retirement savings conundrum of Required Minimum Distributions (RMDs)

Jean Larsen

Executive Director

Legacy Endowment Community Foundation

When planning for retirement, most of us can give ourselves a big, large pat on the back for having saved, sacrificed, and stuck to a solid plan. Now comes the part where we rest on our laurels, knowing the amounts accumulated in those retirement accounts will last about 20-25 years. Peace of mind, right?

Well, yes, except for if you’re on a slow pace to withdrawing your retirement funds. Then the IRS sets a minimum percentage you are required to take out of most types of retirement accounts when you reach a certain age. In 2...