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sprinkleeninow

(20,872 posts)

10. I need to bring in plan rules for two 401Ks and go over them with an agent in person.

Reply to JustABozoOnThisBus (Reply #5)

Sun Jan 12, 2020, 06:37 PM

Jan 2020

I called the investment co. by phone numerous times and got different versions of when I need to take MDRs. Another thing I first need to do is move these to an IRA out of the 401 accounts. Received as beneficiary and can't leave them in 401 status forever.

Both accounts had typos and it was nerve wracking to straighten them out months on end.

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New Req'd Minimum Distr RMD from IRA age is 72 years old, not 70 and a half. [View all] JustABozoOnThisBus Jan 2020 OP

Appreciated. I need to finally meet with a local branch. sprinkleeninow Jan 2020 #1

"in person" you'll get whatever that person knows. JustABozoOnThisBus Jan 2020 #5

I need to bring in plan rules for two 401Ks and go over them with an agent in person. sprinkleeninow Jan 2020 #10

Yeah, if you inherit a 401k or IRA, the rules are complicated, ... JustABozoOnThisBus Jan 2020 #11

Thank you for good thoughts. The typos took months to correct. sprinkleeninow Jan 2020 #12

Thanks for posting this. I've been wondering about it. n/t Tess49 Jan 2020 #2

Only if you turn 70 and a half on January 1st or later. If you turned 70 and a half in 2019 still_one Jan 2020 #3

If you turned 70.5 in 2019, you had to take a RMD in 2019, JustABozoOnThisBus Jan 2020 #4

............. still_one Jan 2020 #6

I started withdrawing at 65. The point of the IRA doc03 Jan 2020 #7

Well, I agree. ret5hd Jan 2020 #8

If you wind up needing a nursing home, marybourg Jan 2020 #9

Excellent point. PoindexterOglethorpe Jan 2020 #13