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RMD Calculator
RMD Calculator
Calculate your Required Minimum Distribution (RMD) for 2024
$0
Your 2024 RMD
Minimum mandatory withdrawal amount
Life Expectancy
0.0
Remaining Balance
$0
Monthly Payout
$0
RMD vs Portfolio Balance
About the RMD Calculator
Estimate your Required Minimum Distribution (RMD): the amount you must withdraw each year from tax-deferred retirement accounts once you reach the required age.
How to use the RMD Calculator
- Enter your Age (End of Year).
- Enter your IRA/401k Balance at the end of the previous year.
- Press Calculate Required Distribution.
Formula and method
RMD = Account balance ÷ Distribution period, using the IRS Uniform Lifetime Table. For example the factor is 26.5 at age 73 and 24.6 at age 75.
Worked example
A $500,000 balance at age 75: 500,000 ÷ 24.6 = about $20,325.
When to use the RMD Calculator
- Estimating the required minimum distribution from a traditional retirement account.
- Planning withdrawals and the tax on them.
- Checking what you need to take each year to avoid a penalty.
Common mistakes to avoid
- Missing the deadline for the withdrawal, which can lead to a penalty.
- Using the wrong account balance date.
Tips
- US rules and the starting age have changed in recent years. Check the current IRS guidance.
- Missing an RMD can trigger a penalty, so set a reminder.
Frequently Asked Questions
Not for the original owner. Roth 401(k) accounts follow current plan rules, so check yours.
A minimum amount that you must withdraw each year from certain retirement accounts once you reach a set age. The starting age has changed several times, so check the current rule.