The minimum amount you must withdraw from retirement accounts starting at age 73. The amount is calculated based on your account balance and life expectancy. Failing to take RMDs results in a 25% penalty on the amount not withdrawn.
A direct transfer from your IRA to a qualified charity, available once you reach age 70½. QCDs can satisfy your RMD requirement while excluding the distribution from your taxable income.
A tax strategy for handling employer stock in your 401(k). It allows you to transfer the stock to a taxable account while paying ordinary income tax only on the basis, with future gains taxed at lower capital gains rates.
A method to withdraw money from retirement accounts before age 59½ without paying the 10% early withdrawal penalty. Requires taking specific, calculated distributions for at least 5 years or until age 59½, whichever is longer.