55+ Living Guide Spring/Summer 2017 55++LG+Spring+17+Spreads - Page 38

5 WAYS to Maximize Your IRA Wealth in Retirement By Jane-Marie Schaeffer Senior Attorney, Herzog Law Firm HerzogLaw.com | (518) 465-7581 As retirement approaches, those with IRAs will be faced with many choices about their plan. Those choices lead to typical questions that our clients will run into such as: When am I required to take a distribution from the plan? How much money is required to be distrib- uted? How will those distributions be taxed? This article will address some of those questions, and give you the information you need to make smart choices about your retirement plan. 38 55PlusLivingGuide.com Distribution Period Age 70 27.4 71 26.5 72 25.6 73 24.7 74 23.8 75 22.9 76 22.0 77 21.2 78 20.3 79 19.5 80 18.7