How Much Money Are You Required to Withdraw this Year?
Many retirement plans require that you begin taking minimum distributions after you reach age 72.
Use this calculator to help estimate how much your lifetime Required Minimum Distribution (RMD) would be this year based on your age and the value of your traditional IRA and non-Roth retirement accounts as of December 31 last year. This calculator does not apply to inherited IRAs or retirement accounts.
Based on the information you provided, the estimated required minimum distribution
is shown below.
Your current account(s) value as of last December 31:
$0.00
Your life expectancy factor:
0
Your estimated required minimum distribution:
$0.00
Required minimum distributions generally must begin no later than April 1 of the year following the year in which you turn 73 (for individuals who reach age 72 after December 31, 2022).
If you attained age 72 in 2022 or earlier, you are already required to take annual RMDs.
RMDs must be taken by December 31 of each year thereafter.
This calculator uses the factors from the IRS's Uniform Lifetime Table. If your
spouse is your sole beneficiary and is more than 10 years younger than you, an alternate
calculation, which may result in lower RMD amounts, should be used.
This chart shows the portion of your account(s) that you would be required to withdraw
this year based on the information you provided.
Required Minimum Distribution
This calculator is intended only to provide an estimate of your RMD. Your actual RMD may be affected by additional factors, including but not limited to the type of retirement plan and whether you are retired, that can affect your actual RMD.
This hypothetical example is used for illustrative purposes only. Actual results will vary.
This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek advice from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.
//<![CDATA[
var Formula = 'switch (a) { case 72: c = 27.4; break; case 73: c = 26.5; break; case 74: c = 25.5; break; case 75: c = 24.6; break; case 76: c = 23.7; break; case 77: c = 22.9; break; case 78: c = 22; break; case 79: c = 21.1; break; case 80: c = 20.2; break; case 81: c = 19.4; break; case 82: c = 18.5; break; case 83: c = 17.7; break; case 84: c = 16.8; break; case 85: c = 16; break; case 86: c = 15.2; break; case 87: c = 14.4; break; case 88: c = 13.7; break; case 89: c = 12.9; break; case 90: c = 12.2; break; case 91: c = 11.5; break; case 92: c = 10.8; break; case 93: c = 10.1; break; case 94: c = 9.5; break; case 95: c = 8.9; break; case 96: c = 8.4; break; case 97: c = 7.8; break; case 98: c = 7.3; break; case 99: c = 6.8; break; case 100: c = 6.4; break; case 101: c = 6; break; case 102: c = 5.6; break; case 103: c = 5.2; break; case 104: c = 4.9; break; case 105: c = 4.6; break; case 106: c = 4.3; break; case 107: c = 4.1; break; case 108: c = 3.9; break; case 109: c = 3.7; break; case 110: c = 3.5; break; case 111: c = 3.4; break; case 112: c = 3.3; break; case 113: c = 3.1; break; case 114: c = 3; break; case 115: c = 2.9; break; } A = a; B = b; C = c; D = (b / c).toFixed(2);';
var Validate = function () {
if ($Gid('a').value 115) {
alert('age must be between 72 and 115');
return false;
}
else {
return true;
}
}
var Questions = [
new Question('What is your age this year?', null, 'a', null, null, null, null, 1, {defaultvalue: 82, slidervalues:[72, 75, 80, 85, 90, 95, 100]}),
new Question('Your retirement account(s) value as of last December 31?', null, 'b', null, null, null, null, 1, {defaultvalue: 100000, slidervalues:[0, 200000, 400000,600000]})
];
var Answers = ['A', '$B', 'C', '$D'];
var ChartTitle = 'Move mouse over chart to view details';
var ChartType = 'pie';
var ChartLabels = ["Required Distribution", "Remaining Balance"];
var ChartData = [["Required Distribution", 'D'], ["Remaining Balance", 'B-D']];
initCalc();
var dd = new Date();
$Gid('this_year').innerHTML = dd.getFullYear();
//]]>
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