"If" you take money out of your IRA. You are *REQUIRED* to take at least the RMD (Required Minimum Distribution) out of a Traditional IRA once you reach the age of 70 1/2. If you have failed to do for the past 9 years, there can be a 50% penalty for a missed RMD unless you have a valid reason for missing it and the IRS grants a waiver but you still have to take all of the missed RMD's.
[RMD's do not apply to Roth IRA's]
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
