giacona
Member
Cash: $ 4.90
Posts: 21
Joined: 22 Jun 2012
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| IRA & 401k Distributions |
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I was talking to a friend of mine who recently retired. He told me his 401k had to be set up like social security where he gets a check every month. My plan is to roll my 401k into an IRA when I retire which I don't believe my friend did.
Do I have the option when I retire to leave the money in my retirement accounts and take a lump sum when needed? Or am I required to take a monthly distribution. I am aware you have to start taking money from the accounts by 70.5 years of age.
I am just curious
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