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.
If you put off taking your first RMD until sometime between January 1 and April 1 the year after you turn 70Â½ or retire, you must also take the RMD for that year by December 31. In other words, deferring the RMD causes two RMDs in the second year. Each year thereafter you must take that year's RMD by December 31.