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.
Lifetime distributions. Individuals with IRAs are required to begin lifetime RMDs from their IRAs no later than April 1 of the year following the year in which they reach age 70Â½. (This is in contrast to RMDs from employer-sponsored plans which, in most cases, may be postponed until after the employee retires or reaches age 70Â½, whichever is later).