RMD calulator for IRA

[Guest jusducki]

Could anyone refer me to a calculator for an IRA RMD? Secondly, how is it calculated if person has been taking out small monthly amounts for five years and will now be turning 70 1/2. What beginning account balance is used and what start date? He needs to make sure he's taking out enough with the minimal distributions he's been taking annually. Thank you in advance for any help you can provide to me.

[ElGuapo]

I don't know if you can link to it directly, but you can use Fidelity's calculator by going to fidelity.com, click "Planning & Retirement," choose "Planning Center" from the yellow submenu, look toward the bottom of the page for a link to "Calculators, Planners, and Worksheets," choose "Retirement" next, and (finally!) you'll see a link to "Minimum Required Distribution Calculator (MRD)."

As to the rest of your question, the fact that he's been taking distributions in previous years doesn't help or hurt, except that the money he's already taken out this year will count toward his first RMD. (I'm assuming from your question that he's turning 70 1/2 in 2004.) The calculator will take care of the rest.

Good luck!

[Appleby]

You may also try the calculator at www.72t.net

Click on “minimum distributions”