[GreenKeys] OT: RMDs

[Jim Haynes]

Or MRDs (Minimum Required Distributions)  There are several schemes in the
U.S. with the general idea that you put income aside untaxed with the
expectation of taking it out and being taxed on it when you are retired
and your income is lower and your tax rate is lower.

IRA - Individual Retirement Account - you put money into an investment
and then at a certain age you are no longer allowed to put money into it,
and still later you have to start taking money out of it and paying
taxes on it.  There's also the thing called a Roth IRA and I don't
remember how that works.

Then there are deferred compensation plans where your employer takes the
money out of your pay and invests it and again you have to start taking
money out of it and paying taxes on it after age 70.5.


 	---

 	"Ya can argue all ya wanna, but it's dif'rent than it was."
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 		Meredith Willson, The Music Man