RMD Estimator
When do your RMDs start, and how big will they be?
The IRS requires you to start taking money out of traditional IRAs and most workplace plans in your 70s. Enter your birth year and last year-end balance to see when your required minimum distributions begin, this year’s amount, and a ten-year look ahead. Built for retirees in Ocala, The Villages, Gainesville and across North Central Florida.
How this is calculated
When RMDs start. Under the SECURE 2.0 Act, required minimum distributions start the year you turn 73 if you were born from 1951 through 1959, and the year you turn 75 if you were born in 1960 or later. If you were born in 1950 or earlier, yours started under the older rules (age 72 or 70½). The 1959 group is not settled in the final IRS rules; the IRS's proposed rules put it at 73, and this tool uses 73.
Each year's amount. Your balance on December 31 of the year before, divided by the IRS Uniform Lifetime Table figure for the age you reach that year. This is the table in use since 2022.
Deadlines. Your first RMD can wait until April 1 of the next year. Every later RMD is due by December 31. If you wait on the first one, you take two RMDs that year.
Future years. The balance grows at the rate you entered. Each RMD is taken out by year-end, after that year's growth. Real returns go up and down, so later years are only a rough guide.
Not included. The separate table for a spouse more than 10 years younger who is your only beneficiary (it gives a smaller RMD). The "still working" delay some employer plans allow. Inherited accounts, which follow different rules. Roth IRAs have no RMDs while the owner is alive. Taxes on the withdrawals are not shown.
Why RMDs deserve a plan
Every RMD counts as taxable income. A large one can push you into a higher tax bracket. It can also raise your Medicare premiums two years later. You can check that with the IRMAA lookback calculator.
Watch the first year. Waiting until April 1 to take your first RMD can mean two taxable withdrawals in the same year. Missing an RMD can bring an IRS penalty tax on the amount you should have taken.
The years before RMDs start are often the best time to act. Moving some money to a Roth IRA, choosing which accounts to draw from first, and giving to charity straight from your IRA can all shrink future RMDs or the tax on them. The right mix depends on your whole picture.
Required distributions
Turn your RMDs into part of the plan.
In one complimentary meeting we’ll map your RMDs against your taxes, Medicare premiums and income needs, so the IRS schedule works for you.