When you reach age 73, the IRS requires you to begin taking annual withdrawals from your retirement accounts. Because these rules have changed recently, it is important to understand how they apply to your specific situation. You can use this tool to estimate your Required Minimum Distribution (RMD) based on your age and account balances.
Inputs
Results
RMD regulations have shifted in recent years, including an increase in the starting age and updated life expectancy tables. If this figure differs from what you expected, it likely reflects these new federal guidelines. While this estimate provides a baseline, a tax or financial professional can help you evaluate how these rules apply to your specific goals.
Withdrawals from your 401(k), traditional IRA, or any other defined contribution plans are taxed as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty.
Note:
This estimate uses the IRS Uniform Lifetime Table, which applies to most retirees. This calculation assumes that:
- You are unmarried.
- or You are married, and your spouse is not more than 10 years younger than you.
- or Your spouse is not the sole beneficiary of your account.
If your spouse is your sole beneficiary and is more than 10 years younger than you, a different IRS table applies, typically resulting in a lower required withdrawal.
Related Content
What If Your Kids Decide Against College?
Rising college costs prompt students to seek alternatives; 529 account funds can be used for other education options.
What to Expect in Your First Year of Retirement
A visual comparison showing how daily life, income, and routines often shift during the first year of retirement.
Starting a Roth IRA for a Teen
This early financial decision could prove helpful over time.