By Dana Anspach
RMD calculations vary depending on whether you are taking a current required minimum distribution, a beneficiary distribution or projecting your future distributions. Pick the RMD calculator below based on what you need to estimate.
Planning for retirement? Use Vanguard’s RMD Calculator to estimate your future required minimum distributions. You estimate your rate of return and the calculator will project your required minimum distributions for all future years. This can be very useful for doing tax planning for retirement as larger distributions later may cause you to be in a higher tax bracket.
Already age 70 or older? Use FINRA's Required Minimum Distribution Calculator to calculate your current year’s RMD. You'll need to have last year's year-end account balance handy as the formula that determines how much you must withdraw is based on your year-end age in the year of distribution and the December 31 account balance from the previous year.
Inherited an IRA? Use Bankrate’s RMD calculator to estimate your required minimum distributions as a beneficiary. These rules are slightly different than if it were your own account. You'll need the deceased person's age of death as well as the prior year-end account balance and you'll use your age as of the end of the year for the year you are calculating the distribution.