Welcome to age 70. Believe me, you don’t look a day over 69.
If you’re not quite to age 70, don’t worry…its coming sooner than you think!
What happens at age 70…or 70 ½ to be precise?
That’s the age Uncle Sam says you must begin taking a required minimum distribution (RMD) each year out of your IRA. And if you don’t do it, you’ll owe a 50% penalty on every dime you fail to withdraw on time, plus the taxes due. I’m not kidding – they are serious about this stuff!