AboutJohn D Smith, CFP Expertise I can answer detailed questions regarding mutual fund investing, retirement planning, education planning and related financial planning/investment issues. I have a B.S. degree in Financial Planning & Counseling. I am also a Certified Financial Planner (CFP) and have performed fee only investment management and financial planning services for the past 11 years.
Question QUESTION: I'm within a year from retiring and I am totally in the dark about RMD. Perhaps you can suggest a website for educating myself. Like does the RMD change and go up every year?
QUESTION: Does the "required" amount usually goes up or down over the years or stay the same each year until depleted?
Answer Hi. Under normal RMD distributions, the amount withdrawn is based on a % of the prior year end account balance. As you get older, then % that needs to be withdrawn goes up, however, the distribution $$ will be higher or lower depending on the value of the account as of 12/31 of each year. I hope this helps.
