Sentences with phrase «funds by a certain age»
Not exact matches
Certain parent assets are sheltered from need analysis, including retirement funds, net worth of the principal place of residence, small businesses owned and controlled by the family, and an age - based asset protection allowance that is typically around $ 50,000 for parents of college - age children.
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That means you need to start taking a certain amount of money out of your account (and paying income taxes on it) by April 1 of the year after you reach age 70.5 — whether you need the funds or not.