✉news BusinessPersonal Finance first seen 13 h ago, last 9 h ago, peak #14
72-year-old with $1.3 million 401(k) faces $52,000 RMD deadline
Original: A 72-Year-Old With $1.3 Million in a 401(k) Has One Year Left to Shrink a $52,000 RMD Before It Starts
A 72-year-old retiree with $1.3 million in a 401(k) has one year before required minimum distributions begin, with the first withdrawal estimated at around $52,000. Commentators point out that acting now — for example through qualified charitable distributions or careful withdrawal planning — could reduce the taxable RMD. The case highlights how retirees just past the RMD age of 73 can still plan ahead to lower their tax bill.
Why now: Retirees approaching the RMD age are looking for strategies to reduce the large taxable withdrawals they must soon take.
Evidence
- A 72-Year-Old With $1.3 Million in a 401(k) Has One Year Left to Shrink a $52,000 RMD Before It Starts · 24/7 Wall St.
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