Retirement planning

We want to retire in about 5 years but have $150,000 in credit card debt and loans and $1.4 million locked in retirement accounts — ‘we want to be really retired’

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We want to retire in about 5 years but have $150,000 in credit card debt and loans and $1.4 million locked in retirement accounts — ‘we want to be really retired’

I’m trying to get some outside guidance on being able to retire in the next 5 to 7 years. I might have to work until I am 59 1/2 to be able to start using retirement funds. We have about $1.4 million in 401(k) and Roth accounts, $30,000 in stocks, a rental house that we … Read more

The deadline for first-year required minimum distributions is April 1

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The deadline for first-year required minimum distributions is April 1

Ronnie Kaufman | DigitalVision | Getty Images If you turned 72 in 2022, the last chance for your first mandatory retirement plan withdrawal is April 1 — or you may face a hefty tax penalty. Generally, you must begin these yearly withdrawals, known as required minimum distributions, or RMDs, by a specific age. Prior to … Read more