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RMD Calculator
Use this free RMD Calculator to determine your Required Minimum Distributions. Simple, accurate, and easy to use for retirees.
The Required Minimum Distribution (RMD) Calculator helps you determine the minimum amount you must withdraw from your tax-deferred retirement accounts (like traditional IRAs and 401(k)s) once you reach a certain age (currently 73).
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INPUT VALUES
Retirement Account Balance500000
Account Holder Age73
Spouse Age (Optional)70
When to Use This Calculator
Use this calculator to:
- Avoid Penalties: Calculating the correct RMD is crucial because failing to withdraw the full amount can result in a steep 25% tax penalty on the shortfall.
- Plan Income: Estimate how much taxable income you will be required to take each year.
Example Scenario
Example Scenario:
- Account Balance: $500,000
- Age: 75
Calculations:
- Life Expectancy Factor: According to the IRS Uniform Lifetime Table, the factor for age 75 is 24.6.
- Required Withdrawal: $500,000 / 24.6 = $20,325.20.