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Ringing in the new year is a time for celebration with loved ones and for reflecting. But before you raise your glass to the ball drop, it may be a good time to start thinking about some new year retirement moves you can make to keep you on the right path. So let’s take a look at some of your options.
Don’t Forget About RMDs
Depending on your age, you may need to take a required minimum distribution (RMD) if you have a traditional IRA or 401(k).
RMDs are annual withdrawals you must take from these accounts starting the year you turn age 73. You have until April 1 of the year you turn 73 to take your first RMD, and subsequent RMDs must be taken by Dec. 31 each year.
