If you have the skills, create a portfolio of products that your art would be great on. If you want to do toys, create some with your work. If you want to sell yourself as a voiceover, create pretend commercials or jingles that youâd do.
Depending upon the terms of your 401(k) or other employer plan, you may be able to delay taking RMDs until April 1 of the year following the later of the year you attain age 70 Â½ or the year you retire, provided you are not a 5% or greater owner of the business.
Each year thereafter, your required minimum distribution, or RMD, is due by Dec. 31. advertisement. (Note that if you wait until April 1 to take your initial distribution for the previous year, you'll still be required to take a distribution by Dec. 31 for the current year, which results in a double tax bill.).