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.
The RMD must be withdrawn by December 31 of each year after age 70 1/2. If you turn 70 1/2 in 2012 and take your first RMD April 1, 2013, you must withdraw your second RMD by December 31, of 2013. Often, the IRA trustee figures the RMD amount and distributes the money.