What's the Best Strategy for Taking Money Out of My Retirement Accounts?

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Are you a late-career professional or pre-retiree wondering about the best withdrawal strategy for your retirement accounts? In “What’s the Best Strategy for Taking Money Out of My Retirement Accounts?,” we explore how to optimize your withdrawals across taxable, tax-deferred, and tax-free accounts. The right approach can help you minimize taxes, prolong your nest egg, and protect your financial future. We’ll talk about why many retirees benefit from tapping into taxable accounts first, leaving tax-deferred accounts like Traditional IRAs and 401(k)s for later, and saving Roth IRAs or other tax-free vehicles for last. Additionally, we’ll address the importance of understanding required minimum distributions (RMDs), Social Security timing, and potential changes to tax laws. Our goal is to help you navigate these complex rules to create a strategy that aligns with your retirement timeline and long-term goals. Whether you’re aiming to reduce your tax burden, preserve principal, or ensure an inheritance for future generations, this episode offers valuable insights for building a cohesive retirement plan. Tune in for practical advice and discover how a thoughtful withdrawal strategy can help you sustain your lifestyle while preserving your savings for years to come. Gain clarity on distribution sequences and increase your retirement confidence.

#RetirementPlanning #TaxEfficientWithdrawals #TaxBuckets #MoneyManagement #RetirementAdvice

Thanks for tuning in to this episode of The Perfect Retirement Plan, and remember: it's not about having the smartest financial advisor, the most money saved, or the highest probability of retirement success. The perfect retirement plan, for you – is the one you act on.

Phillip Smith, CRPC AIF | Financial Planner
Tidepool Wealth Strategies
450 Country Club Road, Suite 350 | Eugene, OR | 97401

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Additional Disclosures:
The opinions contained in this material are those of the author, and not a recommendation or solicitation to buy or sell investment products. This information is from sources believed to be reliable, but Cetera Wealth Services, LLC cannot guarantee or represent that it is accurate or complete.
All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.