30% of Retirees are Making Expensive RMD Mistakes
When you are retired, making a mistake with your required minimum distributions could have very serious financial consequences. RMDs are required for certain kinds of tax-advantaged accounts, and if you don't take them when you're supposed to, you could face very expensive penalties.
Unfortunately, recent research from Vanguard showed that many retirees are making major RMD errors.
In fact, so many people are making major mistakes that collective losses total as much as $1.7 billion per year. So, what's the costly RMD mistake retirees are making? Here's what you need to know.
Source Fool.com
