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.
1. You must take your first required minimum distribution for the year in which you turn age 70Â½. However, the first payment can be delayed until April 1 of the year following the year in which you turn 70Â½. For all subsequent years, including the year in which you were paid the first RMD by April 1, you must take the RMD by December 31 of the year.