NEW HAVEN, Conn. (WTNH) — CT Style Host Natasha Lubczenko welcomes Money Wisdom, sponsored by Johnson Brunetti.
We’re teaching you smart ways to manage your money, and here with expert advice is Eric Hogarth, CFP®, Partner at Johnson Brunetti Retirement & Investment Specialists.
Today, we are talking about some recent changes in the law that can affect your retirement account. Eric answers the question, “When are we required to withdraw funds from our retirement accounts, according to the new regulations?”
- Used to be 70 ½, then moved to 72, now age 73
- Will eventually be pushed back to 75 in 2033
- Know the type of account you have, and make sure you calculate the right amount to fulfill RMDs
- Penalty still 25% for not taking the right RMD
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