Can You Withdraw from an IRA After Age 70?

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Can You Withdraw From An IRA After Age 70?

Yes, you can withdraw from an IRA after age 70. Once you reach age 73, you must start taking Required Minimum Distributions (RMDs) from your traditional IRA accounts. This rule ensures that the tax-deferred savings in these accounts are eventually subject to income tax.

Understanding Required Minimum Distributions (RMDs)

  • Age Requirement: RMDs must begin by April 1 of the year following the year you turn 73.
  • Amount: The amount of the RMD is calculated based on your life expectancy and the account balance.

Guaranteed Lifetime Withdrawal Benefit

  • What Is It?: A feature in some annuity contracts that allows for automated withdrawals.
  • Benefit: Provides a guaranteed income stream for life, simplifying the withdrawal process.

Advantages of RMDs and Guaranteed Lifetime Withdrawal Benefits

  • Tax Compliance: Ensures you meet IRS requirements, avoiding penalties.
  • Steady Income: Provides regular income during retirement.


Understanding and managing withdrawals from an IRA after age 70 is crucial for tax compliance and retirement planning. Opting for a Guaranteed Lifetime Withdrawal Benefit can streamline this process.

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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