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David Meyers

Personal Finance, Retirement, Investing
“Meyers Wealth Management is a fee-only financial advisor providing project-based, hourly, and retainer-based planning and portfolio management.”

Meyers Wealth Management

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After many years working at the institutional level with very large-scale portfolios of bonds and structured securities, David Meyers set up Meyers Wealth Management in order to work with individuals, families and small businesses.  

He started at Salomon Brothers in New York in 1993 and spent several years modeling complex structured fixed-income products, particularly focusing on mortgage-backed securities and the prepayment models. Since then, he's had various roles at a hedge fund and two institutional money management firms modeling securities and portfolios and focusing especially on risk management and quantitative measurement of security and portfolio performance.

In 2008, he established Meyers Wealth Management as a state-level Registered Investment Advisory firm in Massachusetts and in 2009, moved to Palo Alto, California.


BS, Applied Physics, Emory University
MS, Applied Mathematics, Georgia Institute of Technology

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October 2016

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What are the RMD rules for IRAs and 401(k)'s?

RMDs generally need to take place sometime in the year in which they are due.

They are computed based on the previous year-end value and current year's age.

So, her 2018 RMD will be based on the 2017 year-end value, and the age she reaches in 2018 (71, actually).

In the very first year, and only that year, you may put off that year's RMD until 4/1 of the following year.  But that would mean that in 2019, she'd have to take *two* RMDs - her 2018 RMD *and* her 2019 RMD.  (That can be a useful strategy if 2018 is still a high-income year, but otherwise, there's usually little reason to do this).

Additionaly, you mention both IRAs and 401(k)s.  The rules are a little different between the two.

RMDs are due from all traditional IRAs starting in the year you turn 70.5.  They may be added up across all IRAs and taken out from any combination of them (i.e., if you have multiple accounts, you can add it all up and take the actual distribution from any one).

No RMDs are due on Roth IRAs.

401(k) *and* Roth 401(k)s both have RMDs computed the same way as traditional IRAs -- except (a) if you're still working for that employer and not a >5% owner -- you do not have to take RMDs; and (b) unlike traditional IRAs, there is no multi-account aggregation -- if you have multiple 401k plans from multiple former employers, you need to take individual RMDs from each one separately.

Moreover, if you are going to roll a 401k into your IRA and you're subject to RMDs -- you need to take the RMD *before* you can roll the remainder over.

Finally, the rules are quite different for *inherited* IRA and 401(k) accounts.  Too much to get into here, but I strongly recommend reviewing your personal situation and details with a professional and checking in with the sponsors of the plans as well.

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