I am 71 years old and retiring this year. Do I have to take RMD from my 401K and if I do how do I calculate what I need to take?

posted

Your first RMD must be taken by April 1 the year after you retire. The investment company that holds your 401K will normally calculate your RMD for you. Otherwise, the IRS offers worksheets: https://www.irs.gov/retirement-plans/plan-participant-employee/required-minimum-distribution-workshe...

**Answers are correct to the best of my ability but do not constitute tax or legal advice.