As the year winds down, many people are thinking about holiday plans, family gatherings, and completing work projects. However, for retirees and those planning for retirement, financial deadlines carry a special urgency. Tax bills, retirement accounts, and even healthcare costs can be affected by some of these cutoffs. By missing them, you could be losing out on valuable opportunities, or worse, you may face penalties.
The good news? To stay on top of retirement-related deadlines, here are the most important ones you need to know before December 31.
Required Minimum Distributions (RMDs)
A must-do task at year-end for retirees over age 73 (or 72 if you reach that age before 2023) is to take required minimum distributions from traditional IRAs, 401(k)s, and similar tax-deferred accounts.
