Removal of funds from 401(k) account


Q. I am 86 years old and going to retire in 2018. I want to know how much will I have to take out of my TSP account each month? My wife is 18 years younger than me; can this be used to lessen my required funds that I must take when I retire?

A. Your tax accountant can calculate the Required Minimum Distribution for you; you can find the formula for calculating it in IRS Publication 590, or you can use an online calculator (search “RMD Calculator”).


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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