Asked by toliver  |  Submitted March 03, 2017

I have been told that I must cash out my IRA by my 70th birthday. Is that correct?

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  Answers  |  1

March 05, 2017

Hi Toliver.
At 70 1/2 years old, a traditional IRA has RMD's (Required Minimum Distributions) that may be due.
What reasoning did this person use when telling you this?

Here is a link to the IRS on IRA rules:
https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras-1

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