From Dow Jones & Company:

The stock market surge brought retirement account balances to new highs at the end of 2023. However, it’s a mixed blessing for those already spending their nest eggs, due to required minimum distributions (RMDs) from traditional pretax 401(k) and IRAs, which older individuals must start taking out each year. The RMD amount is based on the Dec. 31 account balance divided by life expectancy.

(Source: Dow Jones & Company, Inc.)



Read more: Americans’ Required Retirement Income Has Never Been Higher