Get a Tax-Smart Plan for In-Retirement Withdrawals: Retirement Scan Reviewed by Momizat on . Retirees with multiple retirement accounts are advised to have a tax-efficient way of tapping into these accounts to minimize the tax bite, writes Morningstar's Retirees with multiple retirement accounts are advised to have a tax-efficient way of tapping into these accounts to minimize the tax bite, writes Morningstar's Rating: 0
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Get a Tax-Smart Plan for In-Retirement Withdrawals: Retirement Scan

Retirees with multiple retirement accounts are advised to have a tax-efficient way of tapping into these accounts to minimize the tax bite, writes Morningstar’s Christine Benz.  Retirees who have reached the age of 70 1/2 should take required minimum distributions from tax-deferred accounts, while those who are younger should draw from their taxable accounts, selling assets with the highest cost basis first, writes the expert.  “Finally, tap company retirement-plan accounts and IRAs.  Save Roth IRA assets for last.”

To read the full article in FinancialPlanning, click: Get a Tax-Smart Plan for In-Retirement Withdrawals: Retirement Scan.

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