However, with a Roth IRA, there are no Rmds.
But with a Roth IRA, there are no Rmds.
Once you start taking Rmds from a retirement account, you can
no longer make any new contributions to it.
However, if you're still working for the employer
past age 70½ you may be able to delay taking Rmds.
Once you leave an employer or retire,
it's easy to avoid Rmds and continue making contributions by rolling over your workplace
Roth to a Roth IRA.
Required minimum distributions(Rmds): Roth IRAs aren't subject
to Rmds during the account holders lifetime, but beneficiaries who inherit a Roth IRA- except a spouse- are required to meet certain Rmds.
If you have a trail of old 401(k)s left with a bunch of former employers, things can get really complicated when you retire-
especially when you have to take Required Minimum Distributions(Rmds).
The upside is considerable: you get tax-free compounding, tax-free withdrawals if you are older than age 59½ and have owned your account for at least five years, and the potential to
make contributions to your IRA after age 70½ without having to take Rmds.