Minimum IRA Distribution

[Ginger]

I realized you don't have to start taking IRA distributions until 70 1/2, but what if you have amassed a large portion of retirement savings in IRAs. This could really amount to one large tax bill if you wait until 70 1/2! We also have Roth IRAs, but in a much smaller amount. Anyone in this situation? Would it just be best to start taking out small amounts from the IRA every month?

 

[Patrick]

Ginger, the calculator at this site will show you how much to take out of each account every year to minimize your taxes:

http://www.i-orp.com/   

 

[Ginger]

Thank you --- will check it out right now.