By Lorie Konish
Stocks had a rocky close to 2018.
That doesn’t mean your required minimum distribution from retirement accounts will be lower this year as a result.
RMDs, as they are commonly known, are the minimum amount individuals who are age 70½ and older must take out of their retirement funds such as individual retirement accounts or workplace-based accounts such as 401(k) plans. If you’ve inherited a retirement account, you may also have to take money out.
The amount you take from year to year is based on specific calculations, including what your account values were as of Dec. 31 the prior year.