Updated October 1997 - Require minimum withdrawals using the IRS single life expectancy table. At 70 1/2 you are forced to withdraw the minimum. Note that joint life minimums withdrawals would be smaller, as would MDIB (Minimum Distribution Incidental Benefit) minimums. For more information on minimum withdrawals, see IRS Publication 590.
Also now adds 10% withdrawal penalty for before 59 1/2.
Since the mortgage calcuator is so popular, I put together a form that does another calculation I find important, finding out how much to put away tax deferred to get a certain amount of money in the future, and how much you could expect to draw out of that money. Just put in some numbers to see what I am talking about!