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Roger is currently age 68. He is creating a retirement income plan. As such, he needs to estimate his future required distributions from his retirement plans. Help roger by telling him when he must begin taking distributions from his Roth Ira because He will never have to accept a distribution.
Define Retirement.
- Retirement is the cessation of one's employment, occupation, or active working life.
- Another way to semi-retire is to work fewer hours or with fewer jobs.
- When they are old or unable to work due to health issues, many people decide to retire.
What is income?
- Income is the money that an individual or organization receives in return for their services or goods.
- Depending on the context—such as taxation, financial accounting, or economic analysis—income may have a variety of definitions.
- For the majority of people, their total earnings include their wages and salaries, investment returns, pension payments, and other receipts.
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