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Master your money.
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Most people only need one option for the money the government requires those 73 or older to withdraw each year as required minimum distributions (RMDs) from qualified retirement accounts: Spend it.
Given that the average retirement balance of those aged 65 and over is $235,000, according to Vanguard’s How America Saves 2023 report, there’s not that much cash involved. So most people just spend the RMD, which is based on a formula that takes into account your age and account balance. It ends up serving as replacement income…
Master your money.
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