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Retirement income withdrawals
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not
been recently reviewed or revised by the author and may be out of date.
If in doubt, please send a new question or ask for an update.
Q: When taking money out of my
accounts for income in retirement, is it better to spend after-tax
accounts and save IRAs until later?
A: The conventional financial
planning wisdom is that it is best to spend after-tax accounts first,
then IRAs and then Roth IRAs. Part of the reason behind this logic is
that Roth IRAs are the best type of asset to inherit, from the
beneficiary's point of view, because it can provide a lifetime of
tax-free income. Most people wind up passing on a large part of their
account balances to their beneficiaries, so it often makes sense to
think ahead to look at the strategy that gives the best results over
two generations.
Summary
More resources:
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