Q.: When is the best time of the year to withdraw Required Minimum Distributions (RMDs)? S.A.
A.: The annual, taxable, RMD is based on the Dec. 31 balance of the prior year. Thus, the RMD for 2020 is based on the account balance as of Dec. 31, 2019. Why have it on your mind after the first business day of 2020? There is no advantage to postponing the unavoidable and inevitable. I have always advised my clients to withdraw the RMD on the first business day of January and know that it's done.
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