If you have savings in a traditional IRA, you're required to start taking withdrawals, known as required minimum distributions ... current life expectancy factors from the Uniform Lifetime Table ...

Knowing your Required Minimum Distributions (RMDs ... 1 How to Use Our IRA RMDs Calculator Our free IRA RMD calculator is specifically designed for individuals who are already 73 years or older.

There are limits as to how much you can contribute and for income thresholds for individual retirement accounts. For 2024 and 2025, you can contribute $7,000.

All that said, once you discover the proper table to use, the calculation is fairly straightforward. Here is an example for calculating the required minimum distribution ... IRA, you enjoy no ...