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.
While the concept of a RMD is simple, there are definitely certain rules you need to be aware of to avoid some pretty hefty penalties. Here are a few things to keep in mind. Don't be late. Technically, you have until the year AFTER you turn 70 and 1/2 to take your first RMD.