PHONE: 414-223-1099 TOLL-FREE: 1-800-236-1096
SEND US A QUESTION OR COMMENT FOR OUR NEXT SHOW

Ask Money Talk: Unneeded distributions

Dollar Question

As an offshoot of our weekly podcasts – and to encourage your participation – we occasionally feature responses to listeners’ questions.

The Internal Revenue Service requires yearly minimum distributions from qualified retirement accounts such as IRAs and 401(k)s when investors reach a mandatory age, usually 70½. If you don’t withdraw at least the minimum, you could face a tax penalty of 50% of the amount you should have taken.

One listener wonders what to do with the money if he is required to withdraw it but doesn’t need it immediately to meet retirement expenses.

Please click on the audio player above to hear how Bob Landaas, president of Landaas & Company, responds.

For past Ask Money Talk features, please click here.

Learn More
The Internal Revenue Service explains requirements for annual withdrawals from retirement accounts for account holders older than 70½
required minimum distribution calculator for determining retirement account withdrawals, from the Financial Regulatory Authority
(initially posted Aug. 14, 2014)

More information and insight from Money Talk

Money Talk Videos

Follow us on Twitter.

Click here to send us your questions about financial trends and investment strategies. Make a habit of listening to Money Talk (also on iTunes), recorded each Friday right after the financial markets close.

Landaas newsletter subscribers return to the newsletter via e-mail.


Text Size:  A  A  reset

No client or potential client should assume that any information presented or made available on or through this website should be construed as personalized financial planning or investment advice. Personalized financial planning and investment advice can be rendered only after engagement of the firm for services, execution of the required documentation, and receipt of required disclosures.
Landaas & Company performs investment advisory services only in those states where it is licensed, or excluded or exempted from state investment advisor licensing requirements. All responses to inquiries made by prospective customers to this internet site will not be made absent compliance with state investment advisor and investment advisor rep licensing requirements, or applicable exemptions or exclusions from licensing.
Please contact the firm for more information.
MEMBER FINRA MEMBER SIPC MSRB REGISTRANT

Powered By: mindspike design
ADDRESS: 411 E. WISCONSIN AVENUE, 20TH FLOOR MILWAUKEE, WI 53202
© 2024 Landaas & Company