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.
Your 2011 required minimum distribution, or RMD, is based on the account balance(s) at the end of 2010, not 2011. RMDs from IRAs start in the year you turn 70Â½, although account owners were allowed to skip the RMD in the 2009 tax year. Your letter reads like you didn't take a required minimum distribution in the 2010 tax year. You wouldn't have this confusion about the 2011 distribution if you had taken a 2010 distribution.