How to Calculate Your Required Minimum Distribution

The amount of your required minimum distribution will change every year. But why is that? 

In this week's video, Tom answers this common question. He also covers who has to take required minimum distributions, how to calculate your RMD each year, and strategies to make sure you take out the right amount to avoid the costly penalty. 

If you are investing through a retirement plan like a 401(k) or IRA, you will be required to take distributions from there at some point down the road. 

Tune in and learn how to calculate your own RMD!

#retirement #investing #certifiedfinancialplanner

0:13 - RMDs
0:59 - How to calculate
1:29 - Life expectancy
2:07 - Calculation
2:43 - 12/31 Balance
3:30 - Penalties

Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments.

Tom Mullooly is an investment industry veteran of over 30 years. Prior to launching the "Mullooly Asset Show," Tom (along with his sons) recorded close to 200 podcasts and nearly 200 videos, which can be found on the site https://www.mullooly.net.

The "Mullooly Asset Show" answers questions and cover topics that YOU bring up. Our topics and questions range from those brought up, or sent in, by our viewers.

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None of the content on our videos, podcasts, website or social media should ever be considered to be investment advice, financial planning advice or a recommendation to buy or sell investments. Nor should our content be considered research. Please our website for complete details.

This video is not a recommendation to buy or sell any of the investments mentioned. None of the securities mentioned in this video represent past specific recommendations of Mullooly Asset Management.

We rely on fundamental and technical analysis. Neither fundamental or technical analysis can predict the future, both methods have flaws. Past performance is no guarantee of future outcomes. Any Point & Figure charts used are provided by our good friends at Dorsey Wright & Associates.