May 19, 2013

There is a recommended way to access investment accounts in retirement. In what order do you  access a 401K, Roth IRA, Social Security, taxable accounts, etc.?

3 thoughts on “May 19, 2013”

  1. Thomas Graham says:

    Take out from your taxable accounts first and leave your Roth IRA for as long as possible. Also leave your Social Security for after the age of 70 and pull your Roth IRA last because it is tax-free and will be compounding during the time you leave them alone.

  2. Mike Finley says:

    Another outstanding answer, Thomas. Let’s recap. Under most circumstances, take money out of your taxable accounts (money outside of retirement accounts) first, tax deferred accounts (pension, traditional 401K and IRA) next, and finally, save your tax free accounts (Roth 401K and IRA) for last. Waiting until 70 for Social Security is generally a very wise move unless you absolutely need the money or are in poor health and hitting 80 is unlikely.

    There is a wise and prudent way to access money in retirement. Educate yourself and make the rational choices while avoiding the emotional choices. Your senior years are too important not to handle this situation very, very carefully.

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