As the year is coming to an end, we want to talk to you about IRAs and the long-term impact that you can make on the model aeronautics community. RMDs (Required Minimum Distributions) are withdrawals that individuals with IRAs are required to take each year after the age of 72? (70 ½ if you reach 70 ½ before January 1, 2020) Typically, not taking your RMD, or taking less than required, can result in a 50% tax penalty.
