economy
What's the required minimum distribution from a $100,000 retirement account? Here's what to know.
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TL;DR
- Required Minimum Distributions (RMDs) from retirement accounts begin at age 73.
- The RMD is calculated by dividing the account balance by an age-based life expectancy factor.
- For a $100,000 retirement account, RMDs increase annually as the life expectancy factor decreases.
- Examples of RMDs from a $100,000 account: $3,774 at age 73, $4,065 at age 75, $4,367 at age 77, $4,739 at age 79, and $5,650 at age 83.
- RMDs are taxable income as they are withdrawn from tax-deferred accounts.
- Precious metals like gold and silver can serve as portfolio protectors due to their ability to maintain value during market deterioration.
- It is advised to consult a financial advisor for retirement planning and portfolio management.