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Bill Riddick
Bill Riddick
Riddick & Co Entrepreneurial Finance Financial Advisor
https://riddickfinance.com 772-617-5757

William (Bill) Riddick has a series 66 (investment adviser representative) and offers investment advisory services through Riddick & Co Entrepreneurial Finance, LLC. He is also a licensed insurance producer in the state of Florida for life, health and annuities.

  • Financial Planning, Goal Analysis & Generational Planning
  • Institutional Investment Management Strategies for Individuals & Businesses Owners.
  • Business Retirement Plans (401Ks w/ Roth, Profit Sharing, Defined Benefit, Simple IRA, SEP IRA, etc.).
  • Term & Permanent Life Insurance, Disability Insurance, Long Term Care


  • Fixed & Indexed Annuities including living benefit riders


  • Fiduciary Standard of Care

Estimate Your RMD

When you reach age 73, the IRS requires you to begin taking annual withdrawals from your retirement accounts. Because these rules have changed recently, it is important to understand how they apply to your specific situation. You can use this tool to estimate your Required Minimum Distribution (RMD) based on your age and account balances.

Inputs

Exclude any Roth IRA and/or Roth 401(k) account balances from this number; neither are subject to RMDs.
$0 $5,000,000
72 120

Results

RMD regulations have shifted in recent years, including an increase in the starting age and updated life expectancy tables. If this figure differs from what you expected, it likely reflects these new federal guidelines. While this estimate provides a baseline, a tax or financial professional can help you evaluate how these rules apply to your specific goals.

Withdrawals from your 401(k), traditional IRA, or any other defined contribution plans are taxed as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty.

Note:

This estimate uses the IRS Uniform Lifetime Table, which applies to most retirees. This calculation assumes that:

  • You are unmarried.
  • or You are married, and your spouse is not more than 10 years younger than you.
  • or Your spouse is not the sole beneficiary of your account.

If your spouse is your sole beneficiary and is more than 10 years younger than you, a different IRS table applies, typically resulting in a lower required withdrawal.

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