Which Comes First? How to Prioritize Withdrawals from Brokerage Accounts, 401(k)s, and IRAs

Some people will spend decades saving and investing for retirement, only to discover that they missed a step along the way. That commonly "missed" step? Devising their plan for decumulation -- in other words, their retirement withdrawal strategy. Because just as you need a plan to build your nest egg, you need one to draw down on it wisely as well.Image source: Getty Images.A retirement withdrawal strategy is simply a plan for drawing upon your assets to cover your expenses in your golden years. Let's say you have a single retirement account, like a self-directed Roth IRA. While it's essential to have a withdrawal strategy regardless of how many accounts you have, planning is simpler when you only have one. That's because the order in which you withdraw from your retirement accounts and the proportions you use when you tap them will impact how much you pay in taxes. That, in turn, is likely to play a meaningful role in determining how long your money will last.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool