How are required minimum distributions (RMD) for a 401k account calculated?

401k 2023 Changes

401k 2023 Changes

Generally, a RMD is calculated for each account by dividing the prior year balance by a life expectancy that the IRS publishes. Most financial institutions provide calculators on their web site and actually provide this calculation for you. If you need help, you should contact a FEE-ONLY financial adviser who can help you determine what your RMDs will be.

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