Required Minimum Distribution Mistakes to Avoid
Required minimum distributions are calculated by dividing your retirement account balance by an IRS estimate of your life expectancy, or perhaps the life expectancy of you and your spouse. Some people need assistance determining their distribution amount. "If you don't calculate or you don’t calculate correctly, the penalty is 50% (of the RMD)," says Kelly Famiglietta, vice president and partner of retirement plan services at Charles Stephen in Albuquerque, New Mexico. "If you have access to an advisor, that's the best thing. Get some help."
U.S. News & World Report, June 14, 2019
