After decades of squirreling away money in tax-advantaged retirement accounts, investors entering their seventies have to flip the script. Starting at age 70½, Uncle Sam requires taxpayers to draw down their retirement account savings through annual required minimum distributions. Not only do you need to calculate how much must be withdrawn each year, you must figure and pay the tax on the distributions.
Your Silicon Valley Bank Questions Answered
You likely have heard about the recent Silicon Valley Bank (SVB) collapse and probably have questions. Here, we provide you with unbiased answers to your questions.