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.
An RMD is also required for IRA-based plans (e.g., SEPs and SIMPLE IRAs) and all employer-sponsored profit-sharing plans. Distributions must be taken from Roth 401(k) accounts as long as the original owner is alive, but not Roth IRAs. RMDs must be taken for the year in which you turn 70 Â½.