Updated over 1 year ago on . Most recent reply
Ira rmd question
My financial advisor is on vacation so I thought I'd throw the question out here. I am not that knowledgeable as far as finances go. I have an ira with around 200k in it. I keep the rmd the lowest possible however to secure a loan on a home I inherited I had to adjust the rmd higher...now I want to move it back where it was because I am very conservative and like to have money for the unforseen future . My question simply is, does increasing your rmd from say 600 dollars to around 2grand a month significantly affect a loss of the IRA? Is it just a numbers game? At the end of the year would it be 200k minus 2 grand x 12? With the 600 taken it out it generally says in the 200k range at the end of the year. I realize markets come into play but I would just like a general idea. Thank you and hope I made sense.