61% of Retirement Savers Are Making This Costly Mistake -- Are You?

61% of Retirement Savers Are Making This Costly Mistake -- Are You?

Retirement accounts, such as IRAs and 401(k)s, can be lifesavers, helping us sock away money for our golden years on a tax-advantaged basis. They have rules that need to be followed, though, and failing to do so can be costly.

According to Fidelity Investments, as of a few weeks ago, fully 61% of their account holders were not following a critical rule for traditional IRAs -- taking their full required minimum distributions (RMDs) -- and as a result, they may soon face a penalty.

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Source: Fool.com