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Don't Blow It With Your Required Minimum Distribution

If you've done a good job saving for your retirement with a traditional IRA or 401(k), when you hit age 70 1/2, you'll need to pay attention to a new three-letter acronym: the RMD. That stands for Required Minimum Distribution -- in short, how much money you have to take out of your IRA every year to avoid penalties. Timing this withdrawal is important. So is the dollar amount. At Kiplinger we've developed a tool to make this easy to compute. You only need two numbers to make it work: Your age at the end of this year, and the balance in your IRAs. Go to and search RMD calculator to try it for yourself.
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