Quote:
Originally Posted by Jameson
I still have a few years before dealing with 401k RMD. If you don't mind my asking, can you take the RMD amount out in a year by multiple payments or a single withdrawal? If multiple did you find any pro/con to either method? I imagine this will probably vary by management company.
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I would suggest transferring the entire 401K account to a Vanguard or Fidelity IRA. Then, when you need to take your RMDs, they will calculate the amount each year and send it to you anyway you want. Or, if you set up a money market account with them, you can do online transfers of RMD money from the IRA to the MM account at any time yourself. As long as the MM account is not an IRA, just making the online transfer will satisfy the RMD requirement.