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distribution, you may be subject to a 50% penalty on your underpayment, plus ordinary income tax as the funds are withdrawn.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 Your first year's distribution (at age 70 1/2) may be able to be withdrawn as late as April 1st of the year following the year in which you turn 70 1/2.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 age73
Is spouse the designated beneficiary?Yes
Beneficiary's date of birth12/31/1950
Beneficiary's current age73
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:42
Year
Age (year end)
Beginning Balance
Growth
Distribution Divisor
Required Distribution
Ending Balance
20247410,000023.84209,580
2025759,580022.94189,162
2026769,162022.04168,746
2027778,746021.24138,333
2028788,333020.34107,923
2029797,923019.54067,517
2030807,517018.74027,115
2031817,115017.93976,718
2032826,718017.13936,325
2033836,325016.33885,937
2034845,937015.53835,554
2035855,554014.83755,179
2036865,179014.13674,812
2037874,812013.43594,453
2038884,453012.73514,102
2039894,102012.03423,760
2040903,760011.43303,430
2041913,430010.83183,112
2042923,112010.23052,807
2043932,80709.62922,515
2044942,51509.12762,239
2045952,23908.62601,979
2046961,97908.12441,735
2047971,73507.62281,507
2048981,50707.12121,295
2049991,29506.71931,102
20501001,10206.3175927
205110192705.9157770
205210277005.5140630
205310363005.2121509
205410450904.9104405
205510540504.590315
205610631504.275240
205710724003.962178
205810817803.748130
205910913003.43892
20601109203.13062
20611116202.92141
20621124102.61625
20631132502.41015
20641141502.178
2065115801.944