3 in 10 Retirees Say They Weren't Prepared for This Rule, Which Is Making a Comeback in 2021
Unless you saved for retirement exclusively in Roth accounts, some of your retirement money has an IRS claim on it, and there are laws in place to ensure it gets its cut. One of the lesser-known rules involves required minimum distributions (RMDs), something that about 3 in 10 retirees are completely unprepared for, according to a recent survey by Principal. Unfortunately, the government isn't going to accept "I didn't know I had to take RMDs" as an answer.
