Financial Briefs
Four Retirement Income Withdrawal Methods
How much should you withdraw from your tax-deferred 401(k) or IRA, and in what form? Here's a brief summary of four retirement income withdrawal methods to help you optimize the decumulation of your retirement income portfolio prudently.
Goals, Obstacles, And Taxes
Withdrawals before age 59½ are subject to a 10% early withdrawal penalty. In addition, you must start withdrawing from federally qualified retirement accounts when you reach age 70½. However, under provisions proposed in the SECURE Act, which is expected to become law by the end of 2019, the required minimum withdrawal age will be pushed back to 72. An extra 18 months of tax-deferred growth at your age is a nice unexpected bonus.
This article was written by a professional financial journalist for Meg Green & Associates. and is not intended as legal or investment advice.
© 2019. All Rights Reserved.