Rules for RMDs and other withdrawals
Table of Contents
https://investor.vanguard.com/investor-resources-education/iras/ira-withdrawal-rules
Required minimum distributions (RMDs)
Most owners of traditional IRAs and employer-sponsored retirement plan accounts (like 401(k)s and 403(b)s) must withdraw part of their tax-deferred savings each year, starting at age 72 (age 70½ if you attained age 70½ before 2020). If you withdraw less than the RMD amount, you may owe a 50% penalty tax on the difference. Roth IRAs have no RMDs during the owner’s lifetime.
Roth IRA
As long as yur money has been in the account for at least five years and you are older than 59 1/2, there is no tax to pay when you take it out.
Unlike the traditional IRA, you are not forced by the government to start taking money out at age 70 1/2.