CD IRA and RMDs
I’m 72 just took my 1st RMD from my CD IRA’S. My question is they both reach maturity in 2022, One in Feb, the other in December, do I roll them over, reinvest (non speculative product.) or do I cash them out and just put the money away. Soc Sec Recipient and have a small annuity payment per month.
Terry Says
OK, I’m assuming you’re talking about the money “left over” in IRA CDs, after your first RMD?
You can always roll over your CDs, and then “break them” with no penalty if you need the money for a withdrawal. But with all rates so very low these days, you might just put one CD in a money market deposit account. That will make it easier to take next year’s withdrawal.
