PSA: You can skip RMDs in 2020

[jon-nyc]

Didn’t realize that, but Vanguard just sent it out in an email. It’s part of the CARES act.

Applies to inherited IRAs too.

[George K]

@jon-nyc said in PSA: You can skip RMDs in 2020:

Didn’t realize that, but Vanguard just sent it out in an email. It’s part of the CARES act.

Applies to inherited IRAs too.

Yup. My drawdowns from my retirement funds were very close to what my RMD would be, so this has little impact on me. Nevertheless, it's nice that you can save a bit extra until you're 72.

[Jolly]

The virus has already done a nice number on my 401a and 457 funds. I don't think I'll be making any withdrawals this year.

[jon-nyc]

@George-K said in PSA: You can skip RMDs in 2020:

Nevertheless, it's nice that you can save a bit extra until you're 72.

I have had an inherited IRA since my father died in 2011. So despite being a youngster of 51 this applies to me too.