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Understanding Required Minimum Distributions

Have you ever noticed when you ask someone the age of their baby or toddler you get answers like “he’s 18 months old” or “she’s two and a half.” If you’re turning 40 this year and someone asks you your age, you’re not likely to say, “I’m 39 years and seven months.” You are more likely to say “I’ve got the big Four-O coming up this year.” At what age do we stop using months and half years? I don’t know if anyone has ever done a study on that, but at some point we just use years, except when it comes to talking about retirement. (more…)

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