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How to Calculate RMD.
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How to Calculate RMD.

Rosemary Njeri

Rmd is short for required minimum distributions.

When a person retires, they are required to withdraw a certain amount of money from your retirement accounts each year. That amount is called a required minimum distribution.

Formula to calculate rmd.

How to Calculate RMD.

Life expectancy factor is taken from the IRS uniform lifetime table.

How to Calculate RMD.

Example:

If a retiree’s who is 70 years old had an account whose balance as at December 31st 2019 was $ 170,000. Calculate the retiree’s rmd.

Since the lifetime factor for 70 years is 27.4 then;

How to Calculate RMD.

Thus, the rmd is 6,204.

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