What your family needs, before taxes, to maintain its current standard of living (for example, 80% of current income).
Enter 0 if you have no children that will attend college. A 4-year public college education currently averages more than $80,000 for in-state students, while a 4-year private college education averages more than $181,000, according to the College Board (2016-2017 school year; includes tuition, fees, and room and board).
If the IRA holder turns 70½ this year, he or she can defer the first distribution until April 1 of the next year. If the holder is older, he or she would normally be required to take an RMD before December 31 of this year. RMDs are considered taxable income for the year in which they are taken.