What is my projected required minimum distributions?

Current tax law specifies that once you reach age 70 1/2 you must begin making taxable withdrawals from your Traditional IRAs and many other retirement plans. These minimum distributions are calculated annually based on your age, account balance at the end of the previous year, marital status and spouse's age. If you do not meet the annual minimum distribution, you may be subject to a 50% penalty on your underpayment, plus ordinary income tax as the funds are withdrawn.

Assumptions


Plan Information





Plan Information And Assumptions

Your projected required minimum distributions have been calculated based on the input you provided and are illustrated in the chart and table below. Minimum distributions will be different from those illustrated below for your beneficiaries after your death. Your first year's distribution (at age 70 1/2) may be able to be withdrawn as late as April 1st of the year following the year in which you turn 70 1/2. All other distributions must be made in the calendar year they are required.

Your date of birth12/31/1950
Your current age68
Is spouse the designated beneficiary?Yes
Beneficiary's date of birth12/31/1950
Beneficiary's current age68
Account balance at end of last year10000
Anticipated return before age 70 1/20%
Anticipated return after age 70 1/20%
Table used in analysisUniform Lifetime
Required Minimum Distributions
Rows:47
Year
Age (year end)
Beginning Balance
Growth
Distribution Divisor
Required Distribution
Ending Balance
20196910,00000.0010,000
20207010,00000.0010,000
20217110,000026.53779,623
2022729,623025.63769,247
2023739,247024.73748,873
2024748,873023.83738,500
2025758,500022.93718,129
2026768,129022.03707,759
2027777,759021.23667,393
2028787,393020.33647,029
2029797,029019.53606,669
2030806,669018.73576,312
2031816,312017.93535,959
2032825,959017.13485,611
2033835,611016.33445,267
2034845,267015.53404,927
2035854,927014.83334,594
2036864,594014.13264,268
2037874,268013.43193,949
2038883,949012.73113,638
2039893,638012.03033,335
2040903,335011.42933,042
2041913,042010.82822,760
2042922,760010.22712,489
2043932,48909.62592,230
2044942,23009.12451,985
2045951,98508.62311,754
2046961,75408.12171,537
2047971,53707.62021,335
2048981,33507.11881,147
2049991,14706.7171976
205010097606.3155821
205110182105.9139682
205210268205.5124558
205310355805.2107451
205410445104.992359
205510535904.580279
205610627904.266213
205710721303.955158
205810815803.743115
205910911503.43481
20601108103.12655
20611115502.91936
20621123602.61422
20631132202.4913
20641141302.167
2065115701.943