Best Freez

The longer you can let it sit there, in most cases the better off you’ll be. But the government won’t let it sit there (tax-free!) forever. They want their taxes on your retirement money. According to a formula specified by the IRS, you have got to start taking money out of our retirement plans by April 1 in the year after you turn 70Y2. There is one big exception: Begin- fling January 1, 1997, if you are still working, your retirement money is in an employer-sponsored plan such as a 401(k), and you are 70Y or older, you do not have to make withdrawals until April 1 following the calendar year in which you do retire.

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