Key benefits of making automatic withdrawals:
- Provides a convenient way to manage regular withdrawals over a period of time
- Could help establish an income stream to help fund certain living expenses
- Could satisfy required minimum distribution (RMD) rules for your retirement account
American Funds can automatically withdraw a specified dollar amount on a recurring basis from one or more of the funds in your account. For example, you might want to set up a $200 automatic withdrawal from AMCAP Fund that would occur on the 15th of every other month of the year. In that case, on the 15th of January, March, May, July, September and November, $200 from AMCAP Fund would be deposited directly into your bank account (as long as there are sufficient funds). You may also choose to have a check mailed to your address.